Is a global recession looming in 2023? | Business and Economy

Will a global economic slowdown happen in the new year? A panel of experts offers their insights about what to expect.

If there is one word that has caught everyone’s attention in 2022, it is inflation.

It has been a major concern for millions of people around the world and will remain so in 2023.

All around the world, everyday goods and services are becoming more expensive. Rising costs are making life more difficult for many people, who are struggling to buy groceries, pay their bills and fill up their tanks at fuel stations.

Global inflation is forecast to decline from 2022’s staggering 8.8 percent to 6.5 percent in 2023, while the world’s output will slow to 2.7 percent in the new year.

Counting the Cost looks at what global economies can expect in 2023.