The World Economic Forum’s annual meeting began in Davos with corporate executives and economists warning a global recession is likely this year.
A separate survey of chief economists, released by the Forum, found two-thirds expect a worldwide recession in 2023 as businesses cut costs; 18 per cent viewed such a downturn as “extremely likely”. While recent data has raised hopes economies can still pull off a soft landing, last year’s surge in inflation and the subsequent hiking of interest rates by central banks have many braced for economies to contract.
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Source: FinancialReview - 🏆 2. / 90 Read more »