Global Growth Halted

China's 40 City Lockdown, War in Europe and the Spectre of Rampant Inflation Take their Toll


 
The Global Sales Managers Index covers the three great engines of global economic growth of the past decade: China, the USA and India. Together in recent years these three countries have accounted for 58% of 10-year global economic growth.


None are proving immune to the serious problems now impacting heavily on global economic activity. The latest Sales Managers Index shows that the world economy is rapidly heading back into recession territory, as the Chinese lockdown screws up global supply chains already badly affected by Covid; war in Europe drags on and is now damaging global energy and food supplies; and price inflation approaches and in some cases already exceeds 10%, fuelled both by shortages of goods and the lax monetary policies followed by many countries in reaction to Covid.
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