• All G7 nations are concerned about impending economic crisis as GDP slows and inflation increases, Scholz says.
• Falling growth rates in some countries, rising inflation, raw materials shortages, disrupted supply changes.
• German Chancellor: “All members are concerned”.

SCHLOSS ELMAU, Germany (Reuters) – After a session on the global economy at this year’s annual G7 conference, German Chancellor Olaf Scholz stated that all leaders of the Group of Seven wealthy democracies are concerned about an impending economic crisis as GDP slows and inflation increases.

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“All members are concerned about the crisis we are confronting – falling growth rates in some countries, rising inflation, raw materials shortages, disrupted supply changes – these aren’t small challenges,” Scholz said in a televised statement.