Global Recession Risk Remains High According to Latest IACPM Survey; Wider Credit Spreads Forecast and Credit Defaults Seen Ris- ing in Europe, North America, Asia and Australia
New York, NY – Respondents to the latest IACPM Credit Outlook Survey overwhelmingly expect global economies to fall into recession either later this year or sometime in 2024. Sentiment in the survey is widespread with 14% of respondents say- ing Europe and the UK are already in a recession, 65% expecting these regions to be in recession by the end of the year, and another 19% forecasting a recession sometime in 2024. At the same time, 56% of respondents believe the US economy will be in a re- cession before the end of this year, with 33% forecasting a recession in 2024.