October 10, 2022 | Report
The global economy continues to be buffeted by multiple shocks, and business should prepare for continued volatility in the years ahead. A prolonged period of disruptions and uncertainties notwithstanding, there is still opportunity.
Regarding the short-run outlook, the global economy is weakening rapidly, with the US and Europe forecast to experience recessions in the very near term and China to suffer significantly weaker growth in 2023. A global recession may be avoided, but the world will probably experience notably below-trend growth of 2.1 percent in 2023.
Beyond 2023, the global economy will likely return to its slowing trend growth rate (2.6 percent) relative to the prepandemic pace (3.3 percent). The aging workforce across many mature and large emerging market economies will have a material dampening effect on the growth of labor and capital. As these quantitative drivers of growth slow, productivity increases will become more important drivers of output and revenue growth.
For the full 10-year outlook with risks, and deeper insights for what’s ahead, click the "Download Research Report" button below.
Recession in the Short Term Gives Way to Weaker Growth in the Longer Term
Current Property Market Downtrend Redirects the Economic Outlook in the Coming Decade
Asia as an Ever More Important Growth Engine for the Global Economy
Imminent US Recession to Be Followed by Slower Economic Growth
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All release times displayed are Eastern Time
Charts
Preliminary PMI indices show no change in weak DM growth momentum in November
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US continues to lead global productivity race
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The Conference Board recently released its updated 2022 Global Economic Outlook.
LEARN MOREGlobal growth is expected to slow over the next decade relative to the prior ten years.
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