India has zero probability of recession in 2023 – Here’s how other countries fare (2024)

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Now, let's delve into the information presented in the article dated April 17, 2023, which highlights the countries with the least and highest probability of recession in 2023, according to Bloomberg.

Countries with the Least Probability of Recession in 2023:

1. India:

   • Zero probability of recession in 2023.
   • Acknowledged by the International Monetary Fund (IMF) as the fastest-growing economy in 2023.

2. Indonesia:

   • Second on the list with a 2 percent probability of recession in 2023.

3. Saudi Arabia:

   • Announced a cut in oil production.
   • Has a 5 percent probability of recession in 2023.

4. China:

   • Expected to be the second fastest-growing economy in 2023.
   • Has a 12.5 percent probability of recession in 2023.

5. Brazil:

   • Has a 15 percent probability of recession in 2023, according to Bloomberg.

Countries with the Highest Probability of Recession in 2023:

1. United Kingdom:

   • Tops the list with a 75 percent probability of recession in 2023.
   • Only G7 country besides Germany expected to face recession in 2023.

2. New Zealand:

   • Has a 70 percent probability of recession in 2023.
   • Experienced a 0.6 percent economic shrinkage in Q4 2022.

3. United States:

   • Faces a 65 percent probability of recession in 2023.
   • Cites a banking crisis as a contributing factor, according to the Bloomberg report.

4. Germany:

   • Has a 60 percent probability of recession in 2023.
   • Predicted by the country’s economy ministry to narrowly escape recession with modest growth in Q1 2023.

5. Italy:

   • Also has a 60 percent probability of recession in 2023, as per the report.

This comprehensive analysis provides a snapshot of the economic outlook for various countries in 2023, offering valuable insights into their growth prospects and potential challenges. The data is sourced from reputable outlets such as Bloomberg and the International Monetary Fund, ensuring reliability and accuracy in the assessment of each country's recession probability.