12h ago 11.56 GMT The ski resort of Davos at sunrise ahead of the 2020 World Economic Forum (WEF) in January 2020. Photograph: World Economic Forum There is further tightening to come in the US and Europe, where the Federal Reserve, the European Central Bank and the Bank of England (BoE) have all recently raised rates sharply. 13h ago 10.58 GMT Senior economists expect global recession in 2023 - Davos survey The global economy is likely to fall into recession in 2023, according to a poll of senior economists ahead of the World Economic Forum at Davos, Switzerland. The most obvious is a decline in global economic output. Economists surveyed by the World Economic Forum expect slow growth in 2023.

Source: The Guardian January 16, 2023 23:13 UTC