A look at the threat of recession looming over markets in 2023

Schroders chief economist Keith Wade forecasts global growth to slow to just 1.3% next year, compared to 2.7% in 2022. Recessions were predicted across developed markets, with Wade arguing the US would see a 1% drop in GDP in 2023. Goldman Sachs forecast the UK would have an even worse recession than it had initially anticipated, predicting the UK economy would shrink by 1% next year, down from its previous estimate for a 0.4% contraction.  T. Rowe Price chief international economist Nikolaj Schmidt explains that as a result of the "immense monetary tightening" over the last year, ...