Articles
8 December 2022

Our 3 calls for the global economy and energy prices

An overview of our current base case alongside potential upside and downside scenarios of what could be next for the global economy

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Energy and commodity prices have taken over from Covid lockdowns as a key driver for the global economy and inflation developments across the world. Needless to say that at the current juncture, all forecasts are surrounded by unprecedented uncertainty. Therefore, we're continuing with our tradition of stress testing assumptions and central forecasts. What follows is an overview of our base case alongside both upside and downside scenarios for growth, inflation and central bank policy.

Three scenarios for energy prices

Source: Macrobond, ING
Macrobond, ING

Three scenarios for the US economy

Source: Macrobond, ING
Macrobond, ING

Three scenarios for the eurozone economy

Source: Macrobond, ING
Macrobond, ING

Three scenarios for the UK economy

Source: Macrobond, ING
Macrobond, ING

Three scenarios for China's economy

Source: Macrobond, ING
Macrobond, ING
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