Economy
November 2, 2022
CRU Economics: Outlook Darkens Further Despite Positive Q3 Data
Written by Alex Tuckett
By CRU Principal Economist Alex Tuckett, from CRU’s Global Economic Outlook
Despite some slightly better-than-expected data for Q3, we have further revised down our forecast for 2023. We continue to believe that stubbornly high inflation, the energy crisis, and China’s domestic problems will lead to a sharp slowdown in world growth, with outright recessions in Europe and the US. What is more, higher frequency data (for example monthly PMIs) have deteriorated since the end of the third quarter, particularly in Europe and China.
