Chief Executives, Economists Brace for Recession as Davos Begins

The World Economic Forum’s annual meeting began in Davos with corporate executives and economists warning a global recession is likely this year.

Of 4,410 business leaders surveyed by PricewaterhouseCoopers LLP in October and November last year, 73% predicted global growth to decline over the coming 12 months. The reading was the worst since the consulting firm began polling in 2011. Two out of five even expressed concern their companies may not last a decade.