Economic Update October 2021

The Economic Update, presenting the current economic environment across the globe and the outlook by Atradius Economic Research.

An overview of the current economic environment across the globe.

The October 2021 edition of the Economic Update, presenting the current economic environment across the globe by Atradius Economic Research.

Global - Global GDP and trade are losing momentum due to supply-chain challenges, rising inflation and higher energy prices.
Eurozone – While sentiment indicators continue to point to robust activity, the recovery may come under pressure by supply-chain headwinds. The services sector will become more important in sustaining growth.
US and UK – The consumer-led recoveries in the US and UK are facing increasing challenges as support schemes fade and prices increase sharply.
Emerging Markets – Growth momentum for emerging market economies is waning as they struggle with low vaccination rates and supply bottlenecks.
Credit and Insolvencies – The level of insolvencies is expected to remain very low in 2021 as many support schemes are continued well into this year. However, as fiscal support is being gradually phased out, we expect insolvencies to increase in 2022.