According to Moody’s latest global growth outlook, the G20 economies will grow at a rate of 3.1% in 2022down from the 5.9% growth rate in 2021, Reuters reported.
Outstanding conclusions:
Post-pandemic economic recovery faces a complex set of challenges.
“We expect headline inflation rates to soften over the next year.”
Many risks add to the macroeconomic uncertainty, including the escalation of the Russo-Ukrainian conflict and a slower-than-expected growth slowdown in China.
Many risks add to the macroeconomic uncertainty, including prolonged supply chain disruptions and new waves of viruses.
“We expect global economic growth to continue to slow to 2.9% in 2023.”
There are multiple risks that could further dampen growth.
“We forecast advanced economies to grow 2.6% in 2022 and emerging market countries 3.8%.”
Although they expect headline inflation rates to soften over the next year, price levels remain high and will weigh on consumer demand.
“Except for Russia, we do not expect a recession in any G20 country in 2022 or 2023.”
“We expect global monetary and financial conditions to be quite tight later this year and into 2023, which means inflation rates are going to fall.”
Source: Fx Street
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