Despite headwinds in manufacturing and COVID-19 resurgence, growth in Europe will be above trend in 2022 and 2023

Supply-side disruptions like shipping costs, labor shortages and shortages of raw materials continued for another month to weigh on Europe’s economic recovery. Despite these disruptions primarily taking a toll on the manufacturing sector, The Conference Board Global Economic Outlook 2022 predicts above trend growth in 2022 and 2023 in Europe, with output growth getting back to approximately 1 percent per year over the medium term.