Impact of high temps on economy

Reports indicate that extreme heatwaves impose significant economic costs, leading to increased electricity consumption, decreased worker productivity, and strain on supply chains and businesses, all of which threaten economic growth and financial sustainability. Temperatures exceeding 30°C are expected to reduce productivity by up to 3% for each additional degree, while energy consumption could rise by 1.2% per degree, putting pressure on markets and increasing the likelihood of stagflation.

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