Consumers hold the key to global fortunes in 2022

In 2022, we expect the strength of global economic growth to be driven by demand-side developments, in stark contrast to the past two years when shifts in activity restrictions have been the dominant force. While we expect healthy growth, it is conditional on a reasonably orderly removal of the emergency fiscal support measures, which may prove easier said than done.

What you will learn from this report:

• As we enter 2022, we expect the economic importance of Delta to wane and most of the easy growth wins from reopening to have been exhausted.
• While global GDP growth will lag behind the exceptional rates of 2021, we see a well-above-trend expansion of 4.7%. 
• The consumer boom is driven primarily by the advanced economies.