Economic Snapshot for G7 Countries
January 30, 2022
Economic Growth
Global growth will cool this year due to higher interest rates and the cost-of-living crisis. However, the U-turn in China’s Covid-19 policies, a resilient U.S. economy, and a healthy global labor market should soften the downturn. Faster-than-expected monetary tightening, a spillover of the Russia-Ukraine war, U.S.-China tensions and a global energy crunch are key risks.
Inflation Outlook
World inflation should have peaked in H2 2022. Price pressures will soften in 2023 on slowing economic activity and lower commodity prices. Nevertheless, inflation will remain elevated by historical standards. The resilience of the global economy, the war in Ukraine, central banks’ policy paths and OPEC’s oil production decisions are key factors to watch this year.
Sample Report
5 years of Major Economies economic forecasts for more than 30 economic indicators.
Major Economies Economic News
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Italy: Economy dips but beats expectations in the fourth quarter
January 31, 2023
According to a preliminary estimate, GDP declined 0.1% in Q4 in quarter-on-quarter seasonally adjusted terms, down from the 0.5% expansion recorded in the third quarter but beating market expectations.
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United States: Debt limit reached; fractious negotiations over adjusting the debt ceiling to ensue
January 31, 2023
The U.S. government reached its legal borrowing limit in January. Congress must now agree to raise or suspend the debt ceiling, but the polarized political landscape will complicate the talks. Failure to adjust the debt ceiling could have severe economic consequences. What happened: On 19 January, the nation reached its borrowing cap of USD 31.4 trillion.
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France: Consumer confidence falls and remains pessimistic in January
January 27, 2023
Consumer confidence fell to 80.0 in January from December's 81.0, meaning the index remained below the 100-threshold, indicating pessimism among consumers. The slightly lower print was driven by households’ worsened appraisals of their personal situations: Households’ sentiment regarding their past and future financial situations worsened, as well as that regarding current and future saving opportunities.
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Italy: Business confidence strengthens in January
January 26, 2023
Business confidence came in at 109.1 in January, up from December's 107.9.
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Italy: Consumer confidence weakens slightly in January
January 26, 2023
Consumer confidence declined to 100.9 in January from December's 102.5.
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