Daily Management Review

S&P downgrades global economic growth forecast - 2022


S&P Global Ratings, an international rating agency, has lowered its projection for global GDP growth for the current year to 3.6 percent from 4.2 percent previously predicted, citing recent developments in the international arena.

In a news statement, the agency states, "We are projecting a 60 basis point reduction in projected global GDP growth to 3.6 percent this year from our previous quarterly report, followed by a 20 basis point decline in 2023 (prior forecast)."

S&P now forecasts global GDP to grow at a rate of 3.5 percent in 2023, rather than the previously forecasted 3.7 percent, and to stay at that rate for the next two years.

source: spglobal.com