Stuart Bergman

Vice-President and Chief Economist
Export Development Canada

 


Global economy: Bumpy road ahead

Global economic growth was set for a robust growth path, but given the volatile situation in Ukraine, the material impacts have spread across regions, commodities and financial markets. China’s zero-COVID-19 lockdowns have added further supply chain pressures.

EDC Economics has revised down its global growth outlook for 2022 (2.7%), followed by a slight pick up in 2023 (3.3%).

Faster growing emerging markets will continue to lead global growth in the near-term, but certain key developing economies, such as China, will see a downshift in growth prospects. European confidence has declined in part as a result. Oil-importing countries are experiencing further impacts from higher prices.

Export Development Canada’s summer 2022 Global Economic Outlook is a must-read, packed with valuable information as well as insights on the world’s key economies, interest rates, commodity prices and exchange rates.


GEO overview

Forecast table of GDP growth rates for select countries and regions

   

Forecast table of interest rates, exchange rates and U.S. housing starts

   

Forecast table of prices for oil, natural gas, gold and copper


 

Globe rests on a table

Geopolitical economic impacts

Key economic indicators will show how geopolitical tensions, as well as supply chain issues, have impacted the global economy and the outlook for 2022 and beyond.


 

Businessman prepares to cross street in busy downtown

Interest and exchange rates

Take a look at key interest and exchange rates for Canada, Europe and the United States.


 

Sun sets over oil rig

Commodity prices

Find out how commodities, like oil, natural gas, copper and gold, are performing globally.

 

 

Continue reading the Global Economic Outlook for more key insights.