Q3 Global Economic Forecast from Euromonitor Sees Slow Growth Ahead

It looks to be a tough year ahead for international business, at least according to the latest global economic forecast (Q3 2022) from Euromonitor International, released in September. From the introduction:

“The global economic outlook continues to be suppressed by surging inflation and growing uncertainties caused by the ongoing war in Ukraine, rising geopolitical tension in Asia, tightening of global financial conditions, and China’s economic slowdown. Global real GDP growth is expected to slow significantly from a strong recovery of 6.2% in 2021 to 3.0% in 2022 and 2.9% in 2023. Inflation is forecast to stay elevated, curbing real income growth and squeezing living standards in many countries.”

Key findings include the following:

• Global economic outlook dampened by high inflation and geopolitical risks
• Worsening outlook for the U.S. and the Eurozone
• A significant slowdown expected for the Chinese economy

The report contains two main sections: Global Outlook and Key Economies Outlook. The Global Outlook section includes the following topics (among many):

• Global baseline outlook: Inflation and geopolitical risks make the outlook gloomy
• As inflation ticks up, central banks are tightening monetary policies
• Uncertainty in energy markets poses severe risk of further inflationary pressures
• Downside risks have increased substantially
• Real GDP annual growth forecasts and revisions from last quarter
• Global risk assessments
• Covid-19 – two scenarios: pessimistic and optimistic

The Key Economies Outlook includes a country-by-country assessment of the economies of the U.S., China, India, Japan, Indonesia, Eurozone, U.K., Russia, Brazil, and Mexico.

The report concludes with an appendix summarizing the baseline scenario outlook and main downside risks as of Q3 2022

Find more details and ordering information here.