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2023, a testing year: Will the macro-scenario range widen or narrow?

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

2022 was undoubtedly a volatile year with heightened geopolitical tensions, inflation, interest rates, and labor market imbalances dominating the business environment—and it is no surprise that resilience and globalization are among the major themes being discussed at the World Economic Forum’s annual meeting at Davos this week. Will 2023 be a fresh start for business leaders? In a new article, McKinsey leaders including Michael Birshan , Ezra Greenberg , Homayoun Hatami , Ida Kristensen , María del Mar Martínez Márquez , Asutosh Padhi , Sven Smit , and Andy West , share various macroeconomic scenarios, considering both favorable and not-so-favorable outcomes for 2023 and beyond that will largely determine what we can expect in the global economy this year. Get perspective on the opportunities and risks and be prepared for the year ahead.

A businessman balancing on a tightrope tied between two peaks of a graph

2023, a testing year: Will the macro-scenario range widen or narrow?

Will the world move to solve its structural problems and make superior short-term choices? Yes or no: that’s the first question on the test.

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“If you look back at previous recessions, in the five to seven years coming out of recessions, you see the most trading of market share of any other time. It’s partly because consumers are changing their behavior more quickly—changing where they shop, changing brands—and that spells opportunity.”

—McKinsey senior adviser Richard Mayfield on opportunities amid disruption in retail and beyond in “Beyond retail: Why retailers should think ‘services’ and ‘ecosystems’”

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:23 - 19 Jan 2023

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