Prediction Consensus: What The Experts See Coming In 2023• https://www.zerohedge.com, by Tyler Durden
Experts are reasonably good at predicting the future one year out, though they are also in a strong position to help shape the future through their influential thought leadership and actions.
Situations can and will flare up in unexpected ways, which can have knock-on effects on the whole system (e.g. COVID-19, Ukraine invasion).
Experts are just as susceptible to hype as the rest of us, as evidenced by the glut of Web3 predictions in 2022 and AI predictions this year.
Of course, as Visual Capitalist's Nick Routley admits, we're susceptible to hype as well, which is why we asked ChatGPT to write the intro to this article:
Not bad. But, simple curiosity aside, it's the practical considerations we'll focus on today. This article serves as an overview of how experts think the markets will move, how trends will develop, and which risks and opportunities to watch over the coming 12 months.
Let's gaze into the crystal ball.
The Economic Vibe Check
First, we'll look at some big picture themes, and how experts see them playing out over 2023.
Inflation: This was the top economic story of last year, so it's a natural starting place. Many of the expert opinions in this year's database (now at 500+ predictions) are pointing to inflation easing off as the year progresses*. On the downside, few predict that inflation will drop back down to the 2% range that Fed policymakers favor.
GDP: Forecasters have been revising their economic projections downward in recent weeks. The latest was World Bank, which now sees global growth declining to 1.7% in 2023, down from 3% just six months ago. Most of the predictions in our database see global economic growth in the range of 1.5% to 2%.