According to the latest global growth outlook from Moody's, G20 economies will grow at a pace of 3.1% in 2022, down from a growth rate of 5.9% in 2021, reported Reuters. 

Additional Takeaways:

The post-pandemic economic recovery faces a complex set of challenges. 

"We expect headline inflation rates to ease through next year."

Many risks add to macroeconomic uncertainty including escalation of the Russo-Ukraine conflict and a larger-than-expected slowdown to China's growth.

Many risks add to macroeconomic uncertainty including extended supply-chain disruptions and new virus waves. 

"We expect global economic growth to further slow to 2.9% in 2023."

There are multiple risks that could further dampen growth.

"We forecast that advanced economies will grow 2.6% in 2022 and emerging market countries will grow 3.8%."

Although expect headline inflation rates to ease through next year, price levels remain high and will weigh on consumer demand.

"Except for Russia, we do not expect a recession in any G20 country in 2022 or 2023."

"We forecast that global monetary and financial conditions will be quite tight by end of this year and in 2023, meaning inflation rates are bound to fall."