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What Will Happen in 2023: All the Latest Predictions for the Year Ahead

Updated on January 2, 4:13 AM EST

What You Need To Know

Now that it’s a new year, all eyes are turned to what 2023 will bring.

The looming global recession: how bad, and for how long? Further crypto fallout after the collapse of FTX? The end of war in Ukraine — or the beginning of something that draws in more participants? And what does China’s reopening and the uncontrolled spread of Covid mean for markets, supply chains, and rest of the world?

By The Numbers

  • 40% Goldman's prediction for the best performing asset of 2023: commodities
  • 2.4% World economic growth forecast for '23 according to economist Scott Johnson
  • $5,000 The price Bitcoin will fall to, according to Standard Chartered

Why It Matters

“The only function of economic forecasting is to make astrology look respectable,” so said Ezra Solomon in a Readers’ Digest piece in 1985. His words are often wrongfully attributed to Harvard professor J. K. Galbraith, but whatever the provenance, the sentiment remains — trying to predict the future is a futile exercise.

Take 2022 for example. No one could have foreseen Russia’s invasion of Ukraine, Putin’s protracted battle raging almost a year later and the economic turmoil that would wreak on the world. Nor the Federal Reserve’s huge rate hikes that have left the US teetering on the edge of recession. And so, as 2023 looms, we’ve collected together all the predictions published by Bloomberg News in the last couple of weeks. As to how accurate or useful they may be, we won’t really know until 2024 rolls around.

(Updates to add more year ahead predictions)

    The calendar year has many pitfalls. Still, analyst projections are increasingly negative for equities, and that sounds about right.