KPMG Global Economic Outlook - H1 2023

• Sharp falls in inflation to leave behind some of the recent challenges for the global economy.
• Central banks approaching the end of the tightening cycle partly as a response to recent tensions in the banking system.
• Easing supply chain pressures and resilient labor markets to support recovery but
  uncertainty about the outlook remains high.
• KPMG forecasts world GDP growth of 2.1 percent and inflation at 5.3 percent for 2023.

The outlook for the global economy took a positive turn in the first half of 2023 as inflationary pressures began to ease, but ongoing geopolitical tensions and domestic challenges in key markets are slowing any return to sustained growth, according to the latest forecast from KPMG.