In 2022, global business continues to face various risks, with a persisting Coronavirus pandemic, supply chain disruptions and inflation being top of mind for leaders. This report provides insights on how these three challenges might evolve this year and beyond, and their possible impacts on production, growth and consumer behaviour, helping companies and investors evaluate risks and move forward with a stronger strategic direction.
This report comes in PPT.
Although the hospitalisation rate associated with the Omicron infection wave has been lower than with the Delta and other variants, Omicron is denting near-term economic recovery and spurring inflation risks, due to the disruptions it may cause to labour supply, production and consumption. The weaker start in many key economies in 2022 will affect the overall economic outlook for the whole year.
The global industrial sector is forecast to recover and exceed pre-pandemic levels in 2022; however, the recovery in the supply chain remains fragile. Transportation bottlenecks, increased shortages of workers due to the spread of Omicron and potential lockdown measures in China remain among the major risks that could impact global supply chains and industrial sectors.
Global inflation is forecast to rise from 4.3% in 2021 to 4.6% in 2022. inflationary pressures will remain high in most key economies, as some supply-demand mismatches and labour shortages could last throughout 2022. Rising geopolitical uncertainties in Europe (particularly surrounding the Russia-Ukraine conflict) and elsewhere are a main downside risk, adding pressure on energy prices. Heightened inflationary pressures could trigger central banks in some economies to tighten their monetary policy in 2022, while consumer behaviour could change due to rising prices.
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