The Davos predictions that did not work out

George Soros, billionaire and founder of Soros Fund Management, at the World Economic Forum in Davos, Switzerland, in Jan. 2016.

Matthew Lloyd | Bloomberg | Getty Images

The World Economic Forum in Davos, Switzerland, kicks off next week. It’s an annual meeting where a global elite of business leaders, politicians and economists make bold predictions and try to set the agenda for the year ahead — but they don’t always get it right.

Here’s a recap of some calls made in recent years.

European recession

But Goldman Sachs has improved its outlook on the region, saying this week it no longer forecasts a recession for the euro area.

“We maintain our view that euro area growth will be weak over the winter months given the energy crisis but no longer look for a technical recession. This reflects more resilient growth momentum at the end of last year, sharply lower natural gas prices and earlier China reopening,” Goldman analysts said in the note.

They pointed to a GDP growth rate of 0.6% for 2023, compared to consensus expectations for a 0.1% contraction.

Nuclear war

FTX crash

Bitcoin goes to zero?

U.S.-EU trade deal

Credit Suisse reshuffle



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