• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, June 16, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

86% CEOs believe there would be a recession in 12 months – KPMG Report

by Thomas Babychan
October 4, 2022
in Business, Markets, News, Trending, World
Reading Time: 2 mins read
0
recession KPMG
TwitterWhatsappLinkedin

According to KPMG 2022 CEO Outlook published by international accounting organisation KPMG on Tuesday, 86 per cent of chief executive officers in the world believe that there would be a recession in global economy within the next 12 months.

You might also like

SEBI Unveils ‘Valid’: A Safer UPI-Based Payment System for Indian Securities Market

Meesho Secures NCLT Nod to Shift HQ to India, Inches Closer to IPO

New COVID-19 Variant “Nimbus” Sparks Concerns as Global Cases Rise

KPMG 2022 CEO Outlook which surveyed 1,325 CEOs between July 12 and August 24, 2022 clearly indicates that the business world expects a global recession as part of recent economic turmoil caused by Russian war in Ukraine. Russian special military operation in Ukraine and the western sanctions on Russia had caused widespread inflation in major economies.

Even though a large majority of CEOs feel that a recession is bound to happen in next 12 months, 56 percentage of them believe that the recession would be mild and for a short period of time. Several analysts have had similar opinion that the world is going to face a mild recession for a very short period of time.

Sudden increase in prices of oil in international market and global supply chain crisis as part of COVID-19 pandemic doubled down on both developed and developing economies in the form of high inflation rates. European economies such as Germany and Netherlands witnessed historically high levels of inflation while the United States of America recorded highest inflation in 40 years.

In order to counter the effects of inflation of national economies and to bring down inflation rate to normal, central banks across the globe were forced to increase interest rates in an unprecedented manner. When central bank of a country increases interest rate, it will reduce cash flow in the economy and bring down demands and hence prices of commodities in the market. But increasing interest rate also may cause economic disruption and push economies into a recession which is basically slowdown of the economy. Inability of central banks to bring down high inflation rate through interest rate hikes forced them to increase interest rates in a more aggressive manner.

The survey conducted by KPMG also states that 75% of company heads have already implemented or plan to implement a hiring freeze in next 6 months. More than 80% of CEOs re considering of downsizing their employee base by a large number. This indicates that we can expect large number of lay-offs and termination in the weeks to come which will mount the pressure of labour markets.

Regarding the risks to growth over next 3 years, the number one risk stated by CEOs were disruptive and emerging technologies which seriously changes the landscape of each market and the competition levels. Environmental crisis and climate change also got into the top five risks to growth of businesses in the next 3 years.

Tags: #Inflation#RecessionKPMG
Tweet54SendShare15
Previous Post

Joe Biden’s administration urges Congress to speed up crypto rules

Next Post

Conspiracy Theorists have a new theory ready about the death of rap legend Coolio

Thomas Babychan

Thomas Babychan is an experienced business and economic journalist with a focus on international trade, stock market, banking, and multilateral organizations. He also has expertise in international relations and diplomacy.

Recommended For You

SEBI Unveils ‘Valid’: A Safer UPI-Based Payment System for Indian Securities Market

by Ishaan Negi
June 16, 2025
0
SEBI Unveils ‘Valid’: A Safer UPI-Based Payment System for Indian Securities Market

In a move to bolster investor protection and streamline digital transactions in the securities market, the Securities and Exchange Board of India (SEBI) has launched a unique UPI-based...

Read more

Meesho Secures NCLT Nod to Shift HQ to India, Inches Closer to IPO

by Ishaan Negi
June 16, 2025
0
Meesho Secures $550 Mn in Fresh Funding Amid IPO and Expansion Plans

In a major step towards its public listing ambitions, Meesho — the Prosus-backed ecommerce unicorn — has received the green light from the National Company Law Tribunal (NCLT)...

Read more

New COVID-19 Variant “Nimbus” Sparks Concerns as Global Cases Rise

by Harikrishnan A
June 16, 2025
0
New COVID-19 Variant “Nimbus” Sparks Concerns as Global Cases Rise

As much of the world moves on from the early chaos of the pandemic, a new COVID-19 variant is quietly making its way through communities across Asia, Europe,...

Read more
Next Post
Coolio

Conspiracy Theorists have a new theory ready about the death of rap legend Coolio

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?