- The world economy is expected to grow between 1 and 3 per cent this year
- Even if we dodge a global recession, we may have to contend with downturns in major economies
The bad news is that the US, euro area and UK economies are (at best) expected to suffer a period of economic stagnation this year. But all this gloom is overshadowing some happier news: according to most forecasts, we will avoid a global recession this year. Despite a stagnant outlook for most advanced economies, analysts expect the world economy to grow somewhere between 1 and 3 per cent in 2023 (see chart).
