The global economy is still in a process of economic slowdown. This is proceeding in an orderly manner in most regions. The situation values are declining, while the medium-term expectations remain stable or even improve. This basically confirms our expectation that we are experiencing a "mid-cycle slowdown". The situation in Euro-land, on the other hand, looks worse. The tighter lockdown measures, which have been taken above all in Ger-many and Austria, are dampening the assessments of the situation there considerably. A slowdown to the point of recession no longer seems out of the question. These lock-downs are hitting the economy harder than before.

Full report December 2021

Headlines of the month

  • The sentix overall economic index falls back again in December to 13.5 points, its lowest value since April 2021, due to the slump of more than 10 points in the assessment of the current situation. Expectations, on the other hand, remain stable.
  • In Germany, too, the sentix overall index slumps again and falls to its lowest value since March 2021. This is the fifth decline in a row. The renewed far-reaching Corona restriction measures are weighing heavily on the situation!
  • Global assessments of the situation are also declining moderately. However, the expectations remain largely stable or may even improve slightly. Our favoured scenario of a "mid-cycle slowdown" thus remains unchanged.

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