Goldman Sachs: No world’s major economy to enter recession in 2023

No world’s major economy will face a recession in 2023, despite the central banks’ tightening of monetary policy.

Experts explored the situation in nine countries that were among the first ones which tightened monetary policy, Bloomberg reports referring to the opinion of Goldman Sachs analysts.

Among them were the countries with emerging economies in Latin America, Central and Eastern Europe, and New Zealand.

There were not any signs of recession in those countries, given that their labour markets remain at the same level.

"Their resilience supports our forecast that no major economy will enter a monetary policy-driven recession next year," Goldman Sachs analysts said.

Among the main factors in maintaining the economies of countries at an acceptable level is the unsatisfied demand for workers.

The rapid growth of consumer lending to the population will also help prevent a recession.

Core inflation is likely to have already reached its peak in most countries.