Barclays analysts expect world economy to grow at 6% this year


The global economy is expected to grow at 6% this year, Barclays analysts said on Thursday, adding that the slow pace of growth was still heightened compared with the standards of the past decade.

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The brokerage expects growth to be led by advanced economies with longer bond yields remaining anchored.

Here are the bank’s main views:

** World economy likely to grow 4.4% in 2022.
** China is slowing and the brokerage expects GDP growth of 4.7% in 2022, after 7.8% y-o-y in 2021.

** “China’s zero tolerance approach to COVID-19 means lockdowns will continue to hurt activity.”

** Barclays expects the pace of price rises to decelerate, especially in the second half of 2022, as base effects come into play and goods inflation moves closer to trend.

** “We expect bond markets to keep the faith in 2022 as inflation decelerates, labour supply bottlenecks ease and medium-term inflation expectations stay anchored.”

** Progress on medical treatments, notably oral anti-virals, could reduce the strain on hospitals, prevent new lockdowns, increase leisure and hospitality consumption, and mitigate pandemic-related supply chain problems.

** “The fading of the pandemic is an under-appreciated potential upside for 2022.”

(Reporting by Tanvi Mehta in Bengaluru; Editing by Shounak Dasgupta)

By Naija247news
By Naija247news
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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