In its latest yearly outlook report, economists at Citi Group said that they expect global growth to slow to below 2% in 2023.

Additional takeaways

“Gas shock likely to push Euro area, UK into recession before the end of 2022.”

“For 2023, Citi sees US GDP growth of 0.7% and China GDP growth of 5.6%.”

“For 2023 Citi sees GDP contracting 0.4% in the Euro area and 1.5% in the UK.”

“Citi sees 2023 US headline inflation at 4.8%; sees the Fed terminal rate between 5.25-5.5%”