Consumption to drop as wages fail to keep up with inflation, report says
Real disposable income will take a big hit across western economies, the latest Global Report from Barclays says, but a global recession is unlikely despite the war in Ukraine
Consumption will drag lower this year, as higher prices for energy and food squeeze real wages, according to the latest Global Output report from Barclays.
Europe is expected to be most impacted by this.
With inflation increasing, real wages across most of Europe are likely to decline “significantly” in 2022, according to a report from the bank.
Inflation in the euro area is expected to range between 5.5 per cent and 7 per cent for ...