scorecardresearchGlobal recession increasingly likely as cost of living soars: Chief economists' survey

Global recession increasingly likely as cost of living soars: Chief economists' survey

Updated: 29 Sep 2022, 08:19 AM IST
TL;DR.
According to the WEF Chief Economists Outlook report, real wages are expected to continue falling across the world in 2022-2023 and the cost of living crisis is threatening social unrest, though inflationary pressures are expected to ease in the next year.
A person wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Wednesday, Sept. 28, 2022, in Tokyo. Asian shares tumbled Wednesday after a wobbly day ended with mixed results on Wall Street as markets churn over the prospect of a possible recession. (AP Photo/Eugene Hoshiko)

A person wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Wednesday, Sept. 28, 2022, in Tokyo. Asian shares tumbled Wednesday after a wobbly day ended with mixed results on Wall Street as markets churn over the prospect of a possible recession. (AP Photo/Eugene Hoshiko)