Skip to content
Economics
Year Ahead

World Economy Is Headed for a Recession in 2023, Researcher Says

  • High interest rates take a toll as inflation remains a threat
  • China not forecast to pass US as largest economy until 2036

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

The world faces a recession in 2023 as higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research.