Nearly two-thirds of leading world economists said that a global recession is likely this year and there is near unanimity that there will be weak economic growth in the U.S. and Europe, according to a new survey.
The World Economic Forum’s Chief Economists Outlook echoes expert opinions that a recession could be nearing in 2023, as major economies attempt to quell inflation.
On inflation, though, the 22 world economists are a bit more optimistic. Just 24 percent of those surveyed expect high inflation in the U.S., while 57 percent say it is likely in Europe. Just 5 percent of economists polled expect high inflation in China.
As the Federal Reserve has taken steps in recent months to fight inflation by raising interest rates, a majority of world economists in the new survey said that a further tightening of monetary policy in the U.S. and Europe is on the table for the next year.
Recent numbers out of the Labor…
