Insight
Global economic outlook Q3 2022: on the precipice
Report summary
The global economy is on the precipice and the path to avoiding a global recession is narrow. Although challenges and risks are intensifying, we still expect growth ahead, a so-called ‘soft landing’. Wood Mackenzie forecasts global gross domestic product (GDP) growth will slow to 2.8% in 2022, down from 5.9% in 2021. China and Asia will drive an acceleration in global growth to 3.0% in 2023, offsetting further slowing in the US and Europe.
Table of contents
- Executive summary
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On the precipice
- Soft landing
- Labour markets: late cycle but assisting growth
- China’s rebound built on infrastructure
- Inflation asymmetry
- Painful prices
- Who are the winners?
- Policy conundrum
- Economies in crisis
- Risks
Tables and charts
This report includes 7 images and tables including:
- Global economic outlook
- Unemployment rates falling
- Strong job additions
- Rising inflation
- US official interest rate
- US consumption rotating back to services
- Risk table for selected economies
What's included
This report contains:
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