Davos 2023: Global recession in 2023 seen as likely in WEF survey

Climate activists block the airport near St Gallen, Altenrhein, Switzerland ahead of the World Economic Forum in Davos.

Two-thirds of private and public sector chief economists surveyed by the World Economic Forum (WEF) expect a global recession in 2023, the Davos-organiser said as business and government leaders gathered for its annual meeting.

Some 18% considered a world recession "extremely likely" — more than twice as many as in the previous survey conducted in September 2022. Only one-third of respondents to the survey viewed it as unlikely this year.