The U.S. might skate past a recession, but the rest of the world may not be as lucky

World Bank President David Malpass speaking at a 2022 summit. (Credit: Riccardo Savi via Getty Images)

As optimism grows that the U.S. economy’s downturn will end with a soft landing or a mild recession, most of the world is bracing for a more severe slump.

Last year, doom and gloom prevailed, with more than two-thirds of economists forecasting a 2023 U.S. recession. But expectations have since improved amid more evidence of declining inflation and an economy that continues to run relatively smoothly.