Nearly three quarters of economists believe a global recession is at least somewhat likely to occur by the end of 2023, according to a survey released Wednesday by the World Economic Forum (WEF).
Roughly 70% of economists surveyed by the international lobbying group predict that the wave of interest rate hikes and tighter monetary policy that has swept the U.S. and E.U. in an attempt to combat inflation is unlikely to abate, echoing predictions from major financial analyst, Goldman Sachs. Fully 80% of respondents believed that real wages would decline in high-income countries with nearly 90% anticipating real wages declining in low-income countries.
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