Global PESTLE Insights - A Macroeconomic Outlook Report

Global PESTLE Insights - A Macroeconomic Outlook Report

Summary

The Global Macroeconomic Outlook 2022 report sheds light on the globe's economic recovery prospects, as the world has entered 2022 on a rather precarious note, amid the emergence of the new Omicron variant of COVID-19. In 2022, key macroeconomic issues globally include the impact of the Russia-Ukraine war, the state of the global supply chain, COVID-19 vaccination access and coverage, and balanced policy support. In order to depict the impact of these key issues on global and regional growth prospects, the report discusses the future trends in key macroeconomic areas, including real GDP growth, inflation, manufacturing, the labor market, international trade, public finance, and stock and capital markets for major economies. The report also highlights the global impact of the Russia-Ukraine war and the latest COVID-19 vaccination trends.

GlobalData revised the 2022 economic growth forecast downward for most regions due to the impact the Ukraine-Russia war will have on the global economic recovery. The outbreak of the Russia-Ukraine war in February 2022 has been causing increased volatility in the global financial markets, and the sanctions imposed by some Western countries on Russian oil imports have been pushing crude oil prices upwards, exacerbating the state of global inflation in 2022. Overall, GlobalData forecasts that the global economy will grow by 3.6% in 2022, which is a downward revision from the 4.6% growth projected in September 2021.

Scope

• GlobalData forecasts that global GDP will grow by 3.6% in 2022, amid uncertainty over new variants of COVID-19 and the Russia-Ukraine war
• Inflationary pressure is expected to rise globally in 2022, owing to global supply chain pressures and the accommodative policy stance adopted by the governments of major economies.
• Industrial activity picked up in Q4 2021, however, uncertainty remains amid the risk of new variants of the COVID-19 virus and the outbreak of the Russia-Ukraine war leading to global supply chain pressures and the rising prices of crude oil
• Global trade followed an upward trend in 2021. However, recovery in global trade has been uneven across different sectors.
• Government deficit and debt figures are expected to stay at an elevated level in 2022 across major economies.
• Vaccine inequity between advanced and developing world to undermine global economic recovery.

• GlobalData's Global Macroeconomic Country Outlook Report identifies, analyzes, and forecasts key development of the global economy.
• The report provides a 360-degree view of the economy which can be used as a strategic tool to understand market dynamics, business potential and direction of operations.