Insight
Global economic outlook Q3 2022: on the precipice
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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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