India  

WEF Survey Finds 63% of Chief Economists Think a Global Recession Is Likely

Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
WEF Survey Finds 63% of Chief Economists Think a Global Recession Is Likely

WEF Survey Finds 63% of Chief Economists Think a Global Recession Is Likely

WEF Survey Finds , 63% of Chief Economists Think , a Global Recession Is Likely.

On September 16, a World Economic Forum (WEF) survey revealed that many chief economists have offered a grim prediction for the global economy in 2023.

On September 16, a World Economic Forum (WEF) survey revealed that many chief economists have offered a grim prediction for the global economy in 2023.

Fox News reports that the WEF's Chief Economists Outlook survey suggests 63% of experts polled felt that the global economy is headed for a recession.

45% of chief economists said that a recession was "somewhat likely," while 18% said it was "extremely likely.".

According to the WEF, the number of expert economists who believe a global recession is "extremely likely" has more than doubled since a similar September survey.

The survey suggests that the outlook for economic growth varies greatly by region.

The outlook for Europe was the most pessimistic, with 68% predicting "very weak" growth and another 32% forecast "weak" growth.

Meanwhile, South Asia, the Middle East and North Africa saw positive expectations with expectations of moderate to strong growth.

Meanwhile, South Asia, the Middle East and North Africa saw positive expectations with expectations of moderate to strong growth.

The survey also looked at how inflation would play out across various regions.

According to the survey, over three quarters of economists forecast moderate inflation in the U.S., while another 24% predicted high inflation.

NBC reports that the release of the survey's results coincide with the WEF's annual meeting of heads of state and global business leaders in Davos, Switzerland


You Might Like


💡 newsR Knowledge: Other News Mentions

Fox News Fox News American conservative cable news channel

Rupert Murdoch engaged for 5th time with Ann Lesley Smith at 92 | Fox News | Oneindia News [Video]

Rupert Murdoch engaged for 5th time with Ann Lesley Smith at 92 | Fox News | Oneindia News

On Monday, 92-year-old media titan Rupert Murdoch told his own tabloid newspaper, the New York Post that he is engaged to marry for the fifth time. The billionaire media mogul is engaged to 66-year-old Ann Lesley Smith and said that he knows this marriage would be his last. #RupertMurdoch #AnnLesleySmith #RupertMurdochWedding

Credit: Oneindia    Duration: 02:40Published
Spain Likely to Experience Another Year of High Temperatures and Wildfires [Video]

Spain Likely to Experience Another Year of High Temperatures and Wildfires

Spain Likely to Experience , Another Year of , High Temperatures and Wildfires. Fox News reports that scientists warn Spain has entered a period of long-term drought, the result of increasing temperatures and reduced rainfall in recent years. According to the country's Aemet weather agency, statistics show that the long-duration drought began at the the end of 2020. . Data from the first three months of 2023 has failed to show any major signs of change. The first available predictions for the summer of 2023 point to a likely situation of temperatures once again above normal, Rubén del Campo, Aemet spokesman, via Fox News. Rubén del Campo, a spokesman for Aemet, added that "the risk of fires could be very high given the high temperatures.". Del Campo also pointed out that Spain has experienced severe droughts in the recent past. Most recently, drought struck Spain in 2017. Before that, it occurred in 2005 and at the end of both the '90s and the '80s. To put it in context, we´re in a drought but there have been worse droughts, which is not to say this will not be important, Rubén del Campo, Aemet spokesman, via Fox News. While Spain is geographically prone to experiencing both high temperatures and drought, Aemet says that climate change is now playing a key role. Since the '60s, Del Campo says that Spain has warmed by 34 degrees Fahrenheit.

Credit: Wibbitz Top Stories    Duration: 01:31Published

Conor McGregor Drops F-Bomb Live On Fox News Before Revealing $1 Mil Donation

Conor McGregor got so fired up about revealing a donation to a charity he loves on Wednesday night that he straight-up dropped an F-bomb live on TV!!! The UFC..
TMZ.com
More Rail Officials in Greece Face Charges Following Deadly Train Crash [Video]

More Rail Officials in Greece Face Charges Following Deadly Train Crash

More Rail Officials in Greece , Face Charges Following , Deadly Train Crash. On March 9, three more Greek rail officials were charged in connection with a head-on train crash that killed 57 people . . Fox News reports that the charges were named amid ongoing protests and promises from the Greek government to overhaul rail safety. According to a senior official, two station managers and a supervisor have been charged with endangering rail safety which resulted in the loss of life. The Associated Press originally reported that all three individuals have been summoned to provide testimony, while none of them have been detained. Fox News reports that similar charges were filed against a 59-year-old station manager who was arrested following the February 28 crash. The station manager is currently being held in pre-trial detention. Meanwhile, protests continue across Athens, including large rallies and nationwide strikes amid criticism of the government's response to the head-on collision. . The deadly accident occurred along northern Greece's main rail route near the town of Tempe. . Fox News reports that Prime Minister Kyriakos Mitsotakis has repeatedly apologized for the crash, but has claimed that previous governments share the responsibility. . Fox News reports that Prime Minister Kyriakos Mitsotakis has repeatedly apologized for the crash, but has claimed that previous governments share the responsibility. . I take responsibility. We can’t — we don’t want to, and we should not — hide behind a series of human errors, Kyriakos Mitsotakis, Prime Minister of Greece, via Fox News

Credit: Wibbitz Top Stories    Duration: 01:31Published
Crazy like a Fox: Does Fox News owe their success to 'telling their viewers what they want to hear'? [Video]

Crazy like a Fox: Does Fox News owe their success to 'telling their viewers what they want to hear'?

Credit: FRANCE 24 English    Duration: 08:31Published

Switzerland Switzerland Country in Central Europe

Credit Suisse bondholders may take legal action over £14bn wipe out in UBS takeover

A Swiss regulator's decision to prioritise shareholder value over certain bondholders in the forced takeover of Credit Suisse could result in legal action, a law..
Sky News
Swiss Officials Reach Emergency Deal to Save Credit Suisse [Video]

Swiss Officials Reach Emergency Deal to Save Credit Suisse

Swiss Officials , Reach Emergency Deal , to Save Credit Suisse. On March 19, Swiss officials announced a last-minute deal for an emergency takeover of the troubled Credit Suisse by fellow banking titan UBS. On March 19, Swiss officials announced a last-minute deal for an emergency takeover of the troubled Credit Suisse by fellow banking titan UBS. NPR reports that Swiss president Alain Berset announced the deal, claiming it was critical for stabilizing the global banking sector. NPR reports that Swiss president Alain Berset announced the deal, claiming it was critical for stabilizing the global banking sector. According to the deal, UBS Group AG will make an all stock purchase of $3 billion for Credit Suisse. According to the deal, UBS Group AG will make an all stock purchase of $3 billion for Credit Suisse. As an additional bonus to the deal, the Swiss central bank will also reportedly give UBS an extra $100 billion. . NPR reports that the last-minute emergency takeover of Credit Suisse comes as the latest evidence of ongoing banking troubles that began with , the collapse of Silicon Valley Bank. . NPR reports that the last-minute emergency takeover of Credit Suisse comes as the latest evidence of ongoing banking troubles that began with , the collapse of Silicon Valley Bank. . Prior to the latest deal being reached, the Swiss central bank had attempted to save Credit Suisse with a $54 billion lifeline loan. . Prior to the latest deal being reached, the Swiss central bank had attempted to save Credit Suisse with a $54 billion lifeline loan. . However, the sizable loan was not enough to stabilize the faltering financial institution. NPR reports that the most worrisome aspects of Credit Suisse's recent troubles is that the bank is known as a "global systemically important bank.". According to NPR, this means that the potential failure of Credit Suisse has the ability to send shockwaves throughout the global economy. . Before becoming one of the most significant banks in the world, Credit Suisse was formed to help finance Switzerland's burgeoning rail network 166 years ago. . Before becoming one of the most significant banks in the world, Credit Suisse was formed to help finance Switzerland's burgeoning rail network 166 years ago.

Credit: Wibbitz Top Stories    Duration: 01:31Published
UBS swallows doomed Credit Suisse, casting shadow over Switzerland [Video]

UBS swallows doomed Credit Suisse, casting shadow over Switzerland

Credit: FRANCE 24 English    Duration: 01:49Published
International Day of Happiness 2023: Finland the happiest country once again | Oneindia News [Video]

International Day of Happiness 2023: Finland the happiest country once again | Oneindia News

Finland has once again topped the World Happiness Report which was released this morning, and measures social support, income, health, freedom, generosity and the absence of corruption to determine a country's national happiness. Finland has topped the list for a sixth year in a row, followed by Denmark, Iceland, Israel, the Netherlands, Sweden, Norway, Switzerland, Luxembourg and New Zealand. According to the report, India ranks at 125th position out of 136 countries, making it one of the least happy countries in the world. It even lags behind its neighbouring nations like Nepal, China, Bangladesh and Sri Lanka. At the very bottom of the list is Afghanistan at 137th position. #InternationalDayOfHappiness #HappinessIndex #Finland

Credit: Oneindia    Duration: 02:34Published

UBS to take over Credit Suisse, Swiss central bank confirms

UBS will take over Credit Suisse in a deal aimed at stemming what was fast becoming a global crisis of confidence.
Sky News

North Africa North Africa Northernmost region of Africa

The Olympic legend steering a new generation of sailors to success [Video]

The Olympic legend steering a new generation of sailors to success

The Dialogue sits down with inspirational people from across the globe with links to the Middle East and North Africa.

Credit: euronews (in English)    Duration: 08:00Published

Middle East Middle East Geopolitical region encompassing Egypt and most of Western Asia

UN Report Warns Growing Number of People Face Water Scarcity [Video]

UN Report Warns Growing Number of People Face Water Scarcity

UN Report Warns , Growing Number of People , Face Water Scarcity. On March 21, the United Nations released a report warning that 26% of the world's population, approximately 2 billion people, lack access to safe drinking water. . According to NPR, the report comes on the eve of the U.N.'s first conference on the topic of water in over 45 years. . The U.N.'s World Water Development Report 2023 revealed that 46% of people lack access to basic sanitation globally, equal to about 3.6 billion people. . NPR reports that the U.N. has laid out a goal to ensure that all people in the world have access to clean water by 2030. According to Richard Connor, editor-in-chief of the report, meeting the goal will require somewhere between $600 billion and $1 trillion per year. . Connor said that with 70% of the world's water use going to agriculture, it becomes critical for irrigation to be more efficient. . According to the U.N.'s Educational, Scientific and Cultural Organization (UNESCO) report, as climate change continues, water scarcity is expected to increase. . Seasonal water scarcity will increase in regions where it is currently abundant — such as Central Africa, East Asia and parts of South America — and worsen in regions where water is already in short supply, such as the Middle East and the Sahara in Africa, World Water Development Report 2023, via NPR. An increase in intensity or frequency of droughts and 'heat extremes' can be expected in most regions as a direct result of climate change. The UNESCO report states that an average of 10% of the world's population already lives in an area with high or critical water stress.

Credit: Wibbitz Top Stories    Duration: 01:31Published
Women Across Iran Defy Regime by Refusing to Wear Hijabs [Video]

Women Across Iran Defy Regime by Refusing to Wear Hijabs

Women Across Iran , Defy Regime by Refusing , to Wear Hijabs. NPR reports that while the hijab remains the official law in Iran, many women around the country are removing them in protest. The movement comes in the wake of anti-government protests following the killing of Mahsa Amini while in police custody. The 22-year-old Kurdish woman had been arrested for improperly wearing her hijab. NPR reports that the government responded to the protests with a brutal crackdown. According to rights groups, hundreds of people were killed, while thousands of others were arrested. Previously, Iran's hijab law was enforced by the government's morality police. NPR reports that there appears to be a pause in the government's typical enforcement approach since last fall. I think the government really is putting itself at risk if it chooses to reinforce the hijab law in a very draconian way, Sanam Vakil, deputy director of the Middle East and North Africa program at Chatham House, via NPR. According to Sanam Vakil, deputy director of the Middle East and North Africa program at Chatham House, the Iranian political establishment is weighing how to enforce hijab laws. There are conservatives that have tried to suggest that reform or outreach and bridge building to protesters is important, Sanam Vakil, deputy director of the Middle East and North Africa program at Chatham House, via NPR. But you also have hardline conservatives who see compromise as an avenue that will invite further protests and challenge, Sanam Vakil, deputy director of the Middle East and North Africa program at Chatham House, via NPR

Credit: Wibbitz Top Stories    Duration: 01:31Published
Iran and Saudi Arabia agree to restore relations after China brokered peace | Oneindia News [Video]

Iran and Saudi Arabia agree to restore relations after China brokered peace | Oneindia News

As per Iranian state media reports, Iran and Saudi Arabia have agreed to re-establish diplomatic relations and reopen embassies after talks in Beijing between officials from the two rival Middle East powers. china saudi arabia relations,china brokers truce between iran & saudi arabia,saudi arabia,iran & saudi arabia relations,iran & saudi arabia peace deal,iran & saudi arabia peace,china iran & saudi arabia,china iran relations,iran saudi arabia relations,iran saudi arabia truce,iran & saudi arabia ties,truce between iran & saudi arabia,saudi arabia news,iran saudi arabia ties,Oneindia News,Oneindia english #SaudiArabia #Iran #China

Credit: Oneindia    Duration: 02:32Published
Middle East violence: “We are on an escalation course” [Video]

Middle East violence: “We are on an escalation course”

Credit: FRANCE 24 English    Duration: 04:33Published
UN Calls for Humanitarian Aid for Desperate Earthquake Survivors in War-Torn Syria [Video]

UN Calls for Humanitarian Aid for Desperate Earthquake Survivors in War-Torn Syria

UN Calls for Humanitarian Aid , for Desperate Earthquake Survivors , in War-Torn Syria. On February 14, the United Nations launched an urgent appeal to help an estimated 5 million survivors of last week's devastating earthquakes in Turkey and Syria. . Fox News reports that rebel-held northwest Syria has received very little assistance due to deep divisions that have been exacerbated by the country's ongoing civil war. Secretary-General Antonio Guterres issued the appeal one day after welcoming a new agreement between the U.N. and Syrian President Bashar Assad. Secretary-General Antonio Guterres issued the appeal one day after welcoming a new agreement between the U.N. and Syrian President Bashar Assad. The U.N.-brokered deal will see two new crossing points open up from Turkey for an initial period of three months. Fox News reports that the U.N. has been limited to delivering aid to Syria through a single crossing at Bab Al-Hawa. . According to Guterres, $397 million will be used to provide , "desperately needed, life-saving relief for nearly 5 million Syrians — including shelter, health care, food and protection" for three months. Meanwhile, Guterres said that the U.N. is close to issuing another emergency appeal for neighboring Turkey, which was also ravaged by the 7.8 magnitude earthquake. The human suffering from this epic natural disaster should not be made even worse by manmade obstacles — access, funding, supplies, Antonio Guterres, United Nations Secretary-General, via Fox News. Half of the population faces hunger. And that’s the worst that we’ve seen since the beginning of the crisis in Syria. , Corinne Fleischer, U.N. World Food Program Middle East Director, via Associated Press. Half of the population faces hunger. And that’s the worst that we’ve seen since the beginning of the crisis in Syria. , Corinne Fleischer, U.N. World Food Program Middle East Director, via Associated Press. Even at the height of the war, we didn’t have 12 million people food insecure, Corinne Fleischer, U.N. World Food Program Middle East Director, via Associated Press

Credit: Wibbitz Top Stories    Duration: 01:31Published

South Asia South Asia Subregion of the Asian continent

Why has Seattle ban on caste discrimination sparked a controversy? | Explainer | Oneindia News [Video]

Why has Seattle ban on caste discrimination sparked a controversy? | Explainer | Oneindia News

On Tuesday, Seattle became the first U.S. city to ban caste discrimination after a vote on it was taken by the city council. Seattle has also become the first in the world to pass such a law outside South Asia. This City has amended its municipal code to include caste as a protected class, alongside categories such as race, religion and gender identity. The move has been welcomed largely but a controversy has also broken out after this. Today, we take a look at this legislation and the controversy that is doing rounds in the wake of it. But before that, don’t forget to like, share and subscribe to Oneindia. #Seattle #Casteban #KshamaSawant

Credit: Oneindia    Duration: 04:38Published

Related news from verified sources

Oil prices slip on global recession gloom

In a bearish survey released at the Davos summit, two-thirds of private and public sector economists...
IndiaTimes - Published