By Richard Frankel
- GDP growth is slow and will likely take years to fully recover to its 2% growth trend.
- We are not currently in a recession but may be heading toward a shallow recession in the near term.
- We are in a period of very slow economic growth globally.
- Inflation has moderated but is still very high.
Figure 1. Economic Growth and the Composition of GDP
![](https://www.firstaffirmative.com/wp-content/uploads/2023/04/image-1024x581.png)
This is a snapshot view the full Economic Commentary below.