Products & Services
Search
Products & Services

  

Allianz Research

Allianz Global Wealth Report 2024:
Surprising relief

Click here to download the report

Table of contents

Executive summary

Read more

Financial assets: Surprising relief

Read more

Liabilities: Expected restraint

Read more

Real estate: Setback

Read more

Distribution: Progress is in the eye of the beholder

Read more

Appendices

Read more

Our team

Read more

Key contacts and links

General Inquiries
  

Show contacts

Economic Research
  

Show contacts

Investor Relations
  

Show contacts

Press
  

Show contacts
External IFrame Content

This IFrame contains external resources. The provider may be collecting information about your interaction with this content by using cookies and may use this for targeting their offers. Please accept cookies in order to show the IFrame.

 

All publications

   

Mind the gap: the USD30trn global liquidity gap is here to stay as payment behaviours likely to deteriorate in 2023

Global Working Capital Requirements (WCR) for listed companies increased by +9 days to 72 days of turnover in 2022 – the largest annual increase since 2008. Day Sales Outstanding (DSO) and Days Inventories Outstanding (DIO) equally contributed to the annual rise in WCR. In a context of slowing economic activity, oversupply in manufacturing sectors and tightening financial conditions, inventories are likely to decrease while payment delays should increase as in previous economic downturns.

Inside corporate earnings

Despite a general business deterioration in Q4, 2022 was a strong year overall for corporate earnings. Global revenues jumped by +11.7% y/y and earnings per share (EPS) by +4.3% y/y. 15 out of 23 sectors reported growth for both revenues and EPS, with oil & gas, transportation and hospitality being the biggest winners of the year.

Easy come, easy go

Since 2014, asset purchases and targeted longer-term refinancing operations (TLTROs) have been the two main planks of quantitative easing (QE) in the Eurozone. The ECB’s asset purchases led to a significant compression of term spreads, easing financing conditions in the effort to lift inflation to the price stability target. 

604 releases in total