Recession 2023 | The Business | ABC News
Recession 2023, do you believe this will happen, or is it obvious that it will? According to the Center for Economic and Business Research (CEBR), the world faces a recession in 2023, when higher borrowing costs to tackle inflation cause some economies to shrink.
The global economy crossed the $100 trillion mark for the first time in 2022 but will level off in 2023 as policymakers continue their battle against soaring prices.
The CEBR report states: “The fight against inflation has not yet been won. We expect central banks to continue to raise rates in 2023 despite the economic costs. The price of bringing inflation down to a more comfortable level is a poorer growth outlook in the coming years.”
According to experts, these findings are more pessimistic than the latest forecast by the International Monetary Fund (IMF), which warned in October. More than a third of the world economy will shrink, and there is a 25% chance that global Gross Domestic Product (GDP) will grow below 2% by 2023, defined as a worldwide recession.
Some questions for Recession 2023: Will the US fall into recession? How likely is a recession in Australia? Could we talk ourselves into a recession? How will households cope with higher interest rates? Watch and find your answer in this video.
Chapters:
00:00 - Introduction
01:30 - 02:03 - The risks of recession in 2023
02:04 - 03:21 - Where to put your money
03:22 - 04:30 - What about resources?
04:31 - 05:12 - Blue chip stocks
05:13 - 05:58 - Impact of a US recession on the share market
06:00 - 10:08 - The economic impact of Russia's invasion of Ukraine
10:09 - 10:52 - Will the US fall into recession?
10:53 - 11:44 - How likely is a recession in Australia?
11:45 - 12:22 - Could we talk ourselves into a recession?
12:23 - 13:01 - What will 2023 feel like?
13:02 - 14:01 - House price predictions
14:02 - 14:38 - How will households cope with higher interest rates?
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