Recession looks more likely but less bad ...Middle East

A recent survey found 70 percent of economists expect a recession in the coming year, up from 49 percent in July, and 63 percent in October. Two thirds of major financial institutions agree. Even the Federal Open Market Committee (FOMC) has a median projection of GDP growth of just 0.5 percent in 2023, which could mean a recession early in the year. As dire as these predictions sound, the current outlook is less bad than a few months ago. Though no one wants a slowdown in the economy, nor an increase in unemployment, there are reasons to think the outlook is more optimistic — or at least less pessimistic — than some economists are letting on. Low chance of stagflation Recent data

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