Economic Snapshot for G7 Countries
December 23, 2021
Global economic activity to slow this year
The world economy will lose steam in 2022, as the initial postpandemic rebound wanes in developed countries, and fiscal and monetary stances become more restrictive. However, many developing markets should record faster growth. Key risks include potential further stop-start Covid-19 restrictions amid new variants, and a possible hard landing in the Chinese economy.
Global inflation to dip in 2022
World inflation should dip in 2022, as global supply disruptions gradually ease, monetary policy is tightened and commodity prices tail off. However, inflation will stay fairly high relative to past years. The potential prolongation of supply shocks, further Covid-19 waves and the growing frequency of extreme weather events are key risks to the outlook.
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5 years of Major Economies economic forecasts for more than 30 economic indicators.
Major Economies Economic News
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Germany: Business sentiment rises in January, but remains stuck in pessimism
January 25, 2022
The Ifo Business Climate Index rose to 95.7 in January from December’s nine-month low of 94.8.
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Germany: Private sector operating conditions improve at a strong pace in January
January 24, 2022
The IHS Markit Composite Purchasing Managers’ Index (PMI) jumped to 54.3 in January from December’s 18-month low of 49.9.
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Japan: Composite PMI falls into contractionary territory in January amid Omicron surge
January 24, 2022
The Jibun Bank Composite Purchasing Managers’ Index (PMI)—which combines the PMIs of the services and manufacturing sectors—tumbled to 48.8 in January according to a flash reading, down from December’s final figure of 52.5.
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Germany: Economy recovers at moderate pace in 2021
January 24, 2022
A preliminary estimate revealed that the German economy expanded 2.7% year-on-year on a price-adjusted basis in 2021, marking a moderate recovery from the pandemic-induced 4.6% contraction recorded in the prior year.
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United Kingdom: Composite PMI eases in January
January 24, 2022
The IHS Markit/CIPS Flash Composite Purchasing Managers’ Index (PMI) came in at 53.4 in January, down from December's 53.6.
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