Bundles

2 December 2021

ING global outlook 2022

Three calls for countries, markets and sectors as Omicron delays recovery. ING's global team of economists and strategists look ahead to what we can expect in 2022

In this bundle

The Omicron storm in our crystal ball

Not again. Financial markets showed a very human reaction to the Omicron variant, selling off assets as lockdown fears mounted. It's too early to come…

Three Omicron scenarios for the global economy

Nobody knows if the new variant will be more transmissible or deal a significant blow to the current vaccines. These are the best and worst outcomes for…

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At a glance: The world right now

From faster Fed tapering to zero-Covid policies in Asia, we look at the latest developments in the global economy and what they mean for our forecasts

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United States

Three calls for the US

Inflation, the Fed and political pressures will dominate the United States' economic trajectory next year

Our three calls for the eurozone

From fiscal reforms to wage growth to inflation; these are three significant challenges for the eurozone in 2022

Three calls for the eurozone’s big three

German growth, French uncertainty, Italian doubts; here are our three calls for each of these major eurozone countries

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United Kingdom

Our three calls for the UK

The Bank of England is set to hike rates by February, though what comes after will be slower than markets expect. Brexit has the potential to get worse…

China

Our three calls for China in 2022

The slew of policy announcements in recent months has slowed. The government will rely on investment to drive growth, while tough Covid-19 measures will…

Our three calls for Asia

2022 will see Asia continuing to move forward, but not at a rapid pace amidst rising inflation, rate increases, a return to fiscal conservatism and rating…

Three calls for Central and Eastern Europe in 2022

Sticky inflation, politics and Turkey's quest for growth will be some of the hottest themes for the CEE region in 2022

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Financial Institutions

Central Banks in 2022

From rate hikes to tapering, we look at what the world's major central banks are likely to do next year

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Our three calls on supply chain frictions for 2022

Logistics & Automotive

Retail, Construction & Manufacturing

Our three calls on supply chain frictions for 2022

The good news is that supply chain problems will begin to ease next year. But it’s going to take a while. Semiconductor production won't be back…

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Commodities, Food & Agri

Energy

Our three calls for commodities in 2022

Commodity prices should moderate in 2022 after an extraordinary year for markets; the post-pandemic recovery and numerous supply issues boosted prices. We…

Sustainability

Our three calls on sustainability in 2022

2022 promises another year of political decision-making on sustainability. Expect to see Europe continue its lead and more scrutiny on plans after a year…

Rates

Our three calls for rates in 2022

Negative rates will remain a major feature of 2022 but we are already seeing some significant movement

Our three FX calls for 2022

We expect the dollar to stay strong, commodity currencies to remain in demand and investors to have to work hard to identify returns in emerging market FX

Report

ING Global Outlook 2022: The full report

Omicron is a storm in our crystal ball, but we know that whatever Covid throws at us, the global economy can adapt. Here's our full Outlook for 2022:…