How will the global economy fare in 2023?

The US economy will likely be in a recession though its depth and magnitude will be shallow, buffered by still health labour market conditions and improved wage growth. — Reuters

LAST year was a year of plentiful turbulence and the ride has been very bumpy for governments, businesses, households and central banks.

With the world economy already hurdled by the supply chain disruption-induced inflation, tight labour market conditions, revived consumer demand from excessive fiscal stimulus and ultra-loose monetary policy, Russia’s aggression in Ukraine added sharply to the commodity, energy, food, and industrial material prices.