- December 20, 2022
- Posted by: Stratford Team
- Category: Economy
Bloomberg now expects 2023 to be one of the worst years for the world economy since 1993. But don’t panic — here are 3 stocks to help protect you from the pain
The world economy has largely bounced back from the COVID-19 pandemic, but dark times could lie ahead according to Bloomberg.
Economist Scott Johnson at Bloomberg Economics forecasts that the world economy will grow 2.4% in 2023, marking a slowdown from the 3.2% growth expected for this year. 2.4% would be the slowest growth since 1993 — except for the crisis years of 2009 and 2020.
His analysis also shows the U.S. economy entering a recession at the end of 2023. For the euro area, a recession is expected at the start of the year.
“In the US, with wage gains set to keep inflation above target, we think the Fed is headed toward a terminal rate of 5%, and will stay there till 1Q24,” Johnson writes. “In the euro area, meanwhile, a more rapid decline in inflation will mean a lower terminal…
