Moody's lowers global GDP forecast as Omicron increases uncertainty, downside risk

KUALA LUMPUR: Global gross domestic product (GDP) is expected to grow by 5.5 per cent this year and 4.1 per cent in 2022 as the Omicron variant's arrival increases uncertainty and downside risk about the near-term trajectory, according to Moody’s Analytics.

"GDP growth will steadily decelerate over the next year as policy support fades, pent-up demand cools, and supply-chain stress lingers,” it said in a statement today.