Global economic outlook Q3 2023: muddling through
Global economic growth is slowing amid high inflation and rising interest rates. Yet despite these drags, the global economy remains resilient, albeit out of sync at sector and regional levels. We forecast the global economy to muddle through a soft landing. Some factors point to the global economy turning the corner. Inflation, although still elevated in many major economies, is relenting and interest rates are close to peaking. A synchronised global recession should be avoided. However, challenges persist. In particular, China is falling below growth expectations after reopening.