Global commodities have seen a more than 20% slump compared to the same period last year, as reflected by the S&P GSCI Commodities index.
Prices of commodities like crude oil and iron ore have been sliding this year, underlining a continuing economic rout across the globe and possible recession risks, market watchers told CNBC.
Global commodities have seen a more than 25% slump over the last 12 months as reflected by the S&P GSCI Commodities index — a benchmark measuring the wider performance of various commodity markets.
But the overall slide for the index is likely pointing to a global economic slowdown and a recession, analysts say, as China's Covid-19 rebound loses momentum.
"It is my belief that this will flow through to a broader decline in economic activity, especially in the West," I'Anson added.
Persons:
China's, Reid I'Anson, I'Anson
Organizations:
CNBC, Global
Locations:
U.S, Europe