Goldman Sachs - Macro Outlook 2023: This Cycle Is Differen

The Goldman Sachs Macro Outlook report for 2023 predicts a below-trend global growth rate of 1.8%, caused by several factors such as diminishing reopening boost, tightening fiscal and monetary policies, ongoing Covid restrictions and property slump in China, and the energy supply shock resulting from the Russia-Ukraine war. The report also highlights that Europe may experience a mild recession while China may face a bumpy reopening. However, the report also notes that there are key areas of resilience, such as the US and some emerging economies, such as Brazil.