There is a 98% probability of a worldwide recession, analysis agency warns

There's a 98% chance of a global recession, research firm warns

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New York
CNN Business
 — 

Warning lights are flashing in the global economy as high inflation, drastic rate hikes and the war in Ukraine take their toll.

There is currently a 98.1% chance of a global recession, according to a probability model run by Ned Davis Research.

The only other times that recession model was this high has been during severe economic downturns, most recently in 2020 and during the global financial crisis of 2008 and 2009.

“This indicates that the risk of a severe global recession is rising for some time in 2023,” economists at Ned Davis Research wrote in a report last Friday.

As central banks ramp up their efforts to get inflation under control, economists and investors are growing gloomier.

Seven out of 10 economists surveyed by the World Economic Forum consider a global recession at least somewhat likely, according to a…

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