Oxford Economics

Latest Global Outlook - January / February 2022

Although some of the initial worst fears about Omicron have proved unfounded, the unexpectedly large surge in global Covid-19 cases is causing more cautious behaviour by individuals and greater disruption to businesses than envisaged. We have cut our Q1 GDP forecast again and now expect world GDP growth of 4.2% in 2022, down from 4.3% a month ago and the 5.8% estimated for 2021.

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