Is a Global Recession Really Around the Corner?
While there are signs that the “everything bubble” is about to burst, leading economists’ predictions that the world economy is headed toward a major slump in the coming year seem premature. While hard times are almost certainly coming, the mainstream definition – two consecutive quarters of negative growth – is a very high bar.
CAMBRIDGE – The world’s leading economists spent most of 2022 convincing themselves that, if the global economy was not already in a recession, it was about to fall into one. But with the year’s end, the global slump has been postponed to 2023.