With 2022 fully in the rearview mirror, we would like to highlight some trends we expect to see continuing into 2023. The economy continues to face tremendous uncertainty. According to the World Bank's Global Economic Prospects report, global growth will slow from 2.9% in 2022 to 1.7% this year. The outlook has several downsides, including the possibility of increased inflation, tighter monetary policies, financial stress, and rising geopolitical tensions.
Source: Representations and Warranties Trends for 2023