A global recession is seen as likely this year – WEF survey

<p style=““ class=“text-align-justify“>This, according to the latest survey by the World Economic Forum (WEF) as they set out the backdrop ahead of their annual meeting in Davos. Some 18% of respondents also considered that a recession would be „extremely likely“ – more than twice as many as compared to the previous survey conducted in September last year.</p><p style=““ class=“text-align-justify“>Some other findings from the survey:</p><ul><li style=““ class=“text-align-justify“>9/10 respondents expect both weak demand and high borrowing costs to weigh on firms</li><li style=““ class=“text-align-justify“>This should lead to cost-cutting and reduction of operational expenses via layoffs</li><li style=““ class=“text-align-justify“>Supply chain disruptions not expected to cause a significant drag this year</li><li style=““ class=“text-align-justify“>Cost-of-living crisis may be nearing its peak, with 68% of respondents expecting it to become less severe by the end of 2023</li></ul>

This article was written by Justin Low at www.forexlive.com.

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