Executive Summary

  • Following a strong global economic recovery in 2021 and early 2022, macroeconomic headwinds are raising fears of a broad-based downturn as central banks address persistent high inflation.
  • The Russia-Ukraine war is negatively impacting energy supply and weighing on economic growth, especially in Europe as consumers and businesses grapple with higher energy prices.
  • Strict pandemic-related lockdowns and an ongoing government campaign to rein in the tech sector are slowing growth in China. With relatively low Inflation to contend with, China’s central bank continues to cut interest rates to spur economic growth.
  • Despite these challenges, all three global regions registered very strong investment volumes in the first half of 2022.
  • Inflation, higher interest rates and slower economic growth will cause full-year investment volume to fall below 2021 levels, but remain relatively healthy on a historical basis.