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Article | Global Markets Overview

Global Markets Overview: December 2022

By David Hoile | December 20, 2022

This month’s Global Markets Overview offers a look back on the economic conditions in 2022 and our perspective on 2023.

A recap of economic conditions in 2022; looking forward to 2023:

  • High levels of spending growth in 2021 were supported by high levels of central bank and government COVID-related stimulus. When combined with widespread disruptions in the supply of commodities, goods, and workers, it has led to demand outstripping supply in most economies over the past 18 months.
  • The resulting high inflation has seen aggressive rises in central bank policy rates over this year – the speed and magnitude of this tightening has been the biggest in the past 40 years.
  • Our view moving into 2023, is that the main drivers of economic conditions in advanced economies will pivot from one of rising inflation and rising central bank policy rates to a significant slowing of economic activity.
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Global Markets Overview: December 2022 PDF .3 MB

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