Investing in 2023: Shoot One's Bolt!
The shocks will give reality checks an additional bolt. Global economic conditions will be in negative. Home sales in the US have gone down by more than 30% from a year ago. While there was a growth of 5% in consumer sentiment in the US, it remains negative by 15% year after year.
While the lockdown fuelled online sales, with brick-and-mortar structures back in operation, the scenario has changed. Consumers want experiential shopping. Online sales have started hitting the floor. And newspaper headlines scream Amazon is laying off people.
Not far behind is Ford, laying off 3,000 employees. Officials cite “evolve for its future” as the reason. Lowering costs and evolution to electric vehicles are the reasons stated, too.
War, layoffs, and the international food crisis are all indicators of shaky ground. The global economy is headed in the direction of weak performance. The likelihood is that this severity and duration of the recession will have an impact on future prospects.
From the bolt of 2022 comes the thunder and shock of 2023. Raincheck anyone?
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