A slowdown in the global economy has become more evident, and growth prospects continue to face multiple headwinds and downside risks. Persistently high inflation, energy and cost-of-living crises, and simultaneous global interest rate rises are denting private consumption, investment and other economic activities, while China’s economic slowdown weighs on the overall global growth outlook. Asia Pacific is expected to drive global growth in 2023, amid a very low growth environment in the US and
This report comes in PPT.
A confluence of worsening risks, crises and uncertainties over the course of 2022 have set the global economy on a path of weaker growth and surging inflation. Global real GDP growth is forecast to slow to 3.0% in 2022 and 2.3% in 2023, after a strong recovery of 6.0% recorded in 2021. In Q4 2022, numerous downside risks cloud the global economic outlook: an ongoing global health crisis, as well as war and rising geopolitical tensions. Deteriorating economic conditions adversely impact advanced economies and additionally raise financial vulnerabilities for emerging and developing markets, as interest rates rise and the US dollar surges.
The US economy faces a considerable downturn risk in Q4 2022. Although inflation has been slowing and the labour market has shown resilience, confidence levels have remained low, as consumer demand and manufacturing output have weakened amid rapid monetary tightening. Meanwhile, the Eurozone economy faces significant risks and uncertainty due to the impact of the war in Ukraine. Energy supply uncertainties and permanently elevated price levels put considerable pressure on consumers and businesses, and the area’s growth outlook.
In Q4 2022, China’s real GDP growth remained significantly below its target for the year. This ongoing slowdown continues to be driven by the dampening effect of the country’s zero-COVID policy, in addition to lacklustre domestic demand and a profound property market crisis. The outlook for the world’s second largest economy could be further weakened by worsening US-China trade relations.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!