Insight
Global economic outlook Q3 2023: muddling through
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Global economic growth is slowing amid high inflation and rising interest rates. Yet despite these drags, the global economy remains resilient, albeit out of sync at sector and regional levels. We forecast the global economy to muddle through a soft landing. Some factors point to the global economy turning the corner. Inflation, although still elevated in many major economies, is relenting and interest rates are close to peaking. A synchronised global recession should be avoided. However, challenges persist. In particular, China is falling below growth expectations after reopening.
Table of contents
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Executive summary
- Challenges persist
- Sensational services
- Inflation relenting
- China’s reopening regresses
- Headwinds for Asia's exports
- US defiant
- Europe flirts with recession
- Commodity producers come back down to earth
- 2 more item(s)...
Tables and charts
This report includes the following images and tables:
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GDP growth in major economiesInflation is falling sharplyImbalanced recovery in China
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China's urbanisation slowsExternal demand depressed by global economic slowdownContribution to US GDP growthUS job additions slowingEU economic growth is fragile
What's included
This report contains:
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