The September 2023 Chief EconomistsOutlook launches amid slowing globalmomentum and continuing economic
uncertainty. Despite the fact that recessionconcerns appear to have eased, the outlookremains anaemic: six out of ten chief
economists expect the global economy toweaken in the coming year.
Political factors are expected to be animportant infuence on global economicdevelopments in the year ahead, withlarge majorities of respondents expectinggeopolitics (90%) and domestic politics(79%) to be a source of volatiity.
Regionally, the growth outlook remainspatchy. Respondents continue to see thestrongest growth in Asia over the remainderof 2023 and into 2024, with the notableexception of China, where prospects ofa strong rebound have been clouded by
deflationary pressures. In the US, the outlookhas strengthened significantly since the May2023 Chief Economists Outlook, with abouteight out of ten respondents now expectingmoderate or strong growth in 2023 and
2024. For Europe, about 77% still expectweak or very weak growth this year. Lookingahead to 2024, however, respondents point
to a significant brightening of the outlook forthe first time in years.
The survey reveals some signs of optimismabout the likely easing of inflationarypressures. Although, regionally, chiefeconomists expect infiationary concerns
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