Volatility and uncertainty to influence economic outlook in early 2023

▤ Summary

COVID-19, Russia’s invasion of Ukraine, soaring global inflation rates and recession fears were major contributors to the cloud of uncertainty in 2022 and also to slower global economic growth, per IPC’s December Economic Outlook report. “Many believe a recession is a foregone conclusion in 2023,” said Shawn DuBravac, IPC’s Chief Economist. • U.S. industrial production fell 0.2 percent in November, the second straight month of decline. • In Europe, electronics manufacturing output fell in October after two months of growth. Output decreased 2 percent (month-on-month), but production remains high.

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