Economic Outlook 2023 – After the peak of anxiety

A major geopolitical shock, inflation at a 40-year high, unprecedented monetary tightening and a stalling Chinese growth driver. That is the legacy left by 2022. This is not the most auspicious start to the new year. Could these negative factors intensify further or is the anxiety peak behind us? The war in Ukraine (barring the use of a nuclear weapon) no longer has the same disruptive potential, especially to energy supplies. Global disinflation is well underway at the level of ...