Chief economists at the World Economic Forum are predicting a gloomy macroeconomic outlook and potential global recession for 2023.
Crypto markets have been flying this year, but an ongoing depressed outlook for the world economy could clip those wings.on Jan. 16, the International Monetary Fund expects around a third of the global economy to enter a recession in 2023.The report added that businesses face a “triple challenge” at the start of 2023. High prices of key inputs, tightening monetary policy, and weakening demand will put a dampener on any economic recovery.
Chief economists also see staff shortages, talent availability, and major cost-cutting to be factors. This all has a trickle-down effect on the retail consumer at the bottom of the pile.Furthermore, the U.S. savings rate has fallen to its lowest-ever level of around 2.3%. This metric is used to measure the amount of money a person deducts from their disposable income to set aside for investing.
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