What does the ‘multi-speed’ global economy mean in 2023?

Focusing our lens on 2023, one image becomes clear: the global economy will move at multi-speeds, with some countries, companies, and individuals more exposed to headwinds from high inflation and interest rates than others. The Mastercard Economics Institute’s annual “Economic Outlook 2023” draws on a multitude of public and proprietary data sets, including aggregated and anonymized Mastercard switched volumes, as well as models that are intended to estimate economic activity. The report forecasts four themes that will continue to shape the global economic environment in the coming year — high interest rates and housing, trading down and shopping around, prices and preferences, and shocks and omnichannel.