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

Breaking down a world stuck between inflation and recession

Elliot Gulliver-Needham
clock • 4 min read

As 2023 approaches, a recession seems inevitable. Central banks have stopped talking about a ‘soft landing' and the UK seems to be the first major market to accept that it has already entered a downturn, Elliot Gulliver-Needham writes...

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, ...

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