Oxford Economics

Latest Global Outlook - November / December 2021

We still think the Q3 soft patch for the global recovery was temporary and expect a pick-up in growth in Q4. As a result, our world GDP growth forecasts for 2021 and 2022 are unchanged at 5.7% and 4.5% respectively. But the global recovery remains volatile due to supply-side problems. The slowdown in q/q GDP growth in Q3 from 1.4% to 0.9% was a response to disruption, especially in Asia, from higher Delta cases as well as ongoing supply-chain bottlenecks constraining production in some sectors.

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