As the world economy struggles to move beyond the impacts of COVID-19, we continue to face challenges not seen in generations. How policymakers and businesses navigate these challenges, and their level of success, will determine if the global economy falls into recession.
Export Development Canada’s autumn 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.
With headline inflation rates of nearly 10%, driven by supply shortages resulting from the war in Ukraine and ongoing COVID-19-related supply chain disruptions, most of the world’s major central banks have swiftly reversed course on the accommodative policy approach that saw them through the pandemic.
In our latest release, we see global growth falling to 2.2% this year, and 2.6% in 2023. The Canadian economy is projected to grow by 3.2% in 2022 and 1.3% in 2023. Our outlook for China’s economy calls for historically weak growth of 3% in 2022 and 4.9% in 2023.