- ECONOMIC IMPACT -

Latest update: 26 July (IMF), 12 April (WTO)

A tentative recovery in 2021 has been followed by increasingly gloomy developments in 2022 as risks began to materialize. Global output contracted in the second quarter of this year, owing to downturns in China and Russia, while US consumer spending undershot expectations, according to the IMF.

The most immediate economic impact of the Russia-Ukraine conflict has been a sharp rise in commodity prices. Despite their small shares in world trade and output, Russia and Ukraine are key suppliers of essential goods including food, energy, and fertilisers, supplies of which are now threatened by the war, the WTO said.

3.2%

The baseline forecast is for growth to slow from 6.1 percent last year to 3.2 percent in 2022, 0.4 percentage point lower than in the April 2022 World Economic Outlook.

3%

The WTO expects merchandise trade volume growth of 3.0% in 2022 — down from its previous forecast of 4.7% — and 3.4% in 2023.

IMPACT OF COVID-19 ON WORLD ECONOMIC OUTLOOK

Source: IMF 

Go to article: Home | Rolling stock leasing companies in the spotlightGo to article: In this issueGo to article: ContentsGo to article: Fitch Ratings Thought LeadershipGo to article: Fitch RatingsGo to article: SiemensGo to article: BriefingGo to article: Industry NewsGo to article: Covid-19 executive briefing by GlobalDataGo to article: Industry briefingGo to article: BNP Paribas Leasing Solutions Thought LeadershipGo to article: Great American Insurance Group Thought LeadershipGo to article: LTi Technology Solutions Thought LeadershipGo to article: CommentGo to article: As GDP shrinks, UK SMEs will need a lifeline Go to article: Lessors not frustrated by ‘hell or high water’ clauses Go to article: My road to Close Brothers and SME advocacyGo to article: Haydock Finance Thought LeadershipGo to article: NovunaGo to article: In DepthGo to article: Who owns the trains? ROSCOs and repatriated profitsGo to article: How cybercriminals are targeting asset finance instant messagingGo to article: Lumia’s equipment finance register aims to lock out fraudstersGo to article: Trends, challenges and opportunities in a new age of leasingGo to article: Call for nominations: Leasing Life Awards 2022Go to article: How invoice finance helps recruitment business meet its ambitionsGo to article: In DataGo to article: Inside the dealGo to article: Deals analysisGo to article: RankingsGo to article: EventsGo to article: Next issue