World Economy Heads for One of Its Worst Years in Three Decades
- Bloomberg analysis anticipates recessions in Europe and the US
- China seen rebounding, monetary policies on divergent paths
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The world economy is facing one of its worst years in three decades as the energy shocks unleashed by the war in Ukraine continue to reverberate, according to Bloomberg Economics.
In a new analysis, economist Scott Johnson forecasts growth of just 2.4% in 2023. That’s down from an estimated 3.2% this year and the lowest — excluding the crisis years of 2009 and 2020 — since 1993.