As we head towards Q1 2023, chief investment officers are expecting the global economic slowdown to remain a “major driver” for markets.
Already, the UK and Eurozone are in recession. While the US appears more resilient, growth is also below normal levels and HSBC Private Banking believes there may be some negative growth quarters in the US in 2023.
Meanwhile, China’s zero-Covid policy is creating further uncertainty around the country’s economic growth.
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