WEF Survey Finds , 63% of Chief Economists Think , a Global Recession Is Likely.
On September 16, a World Economic Forum (WEF) survey revealed that many chief economists have offered a grim prediction for the global economy in 2023.
On September 16, a World Economic Forum (WEF) survey revealed that many chief economists have offered a grim prediction for the global economy in 2023.
Fox News reports that the WEF's Chief Economists Outlook survey suggests 63% of experts polled felt that the global economy is headed for a recession.
45% of chief economists said that a recession was "somewhat likely," while 18% said it was "extremely likely.".
According to the WEF, the number of expert economists who believe a global recession is "extremely likely" has more than doubled since a similar September survey.
The survey suggests that the outlook for economic growth varies greatly by region.
The outlook for Europe was the most pessimistic, with 68% predicting "very weak" growth and another 32% forecast "weak" growth.
Meanwhile, South Asia, the Middle East and North Africa saw positive expectations with expectations of moderate to strong growth.
Meanwhile, South Asia, the Middle East and North Africa saw positive expectations with expectations of moderate to strong growth.
The survey also looked at how inflation would play out across various regions.
According to the survey, over three quarters of economists forecast moderate inflation in the U.S., while another 24% predicted high inflation.
NBC reports that the release of the survey's results coincide with the WEF's annual meeting of heads of state and global business leaders in Davos, Switzerland
