Economic experts worldwide are cautioning about the looming risk of recession in many countries by the end of 2024. Notably, Germany, the United Kingdom, the Netherlands, and Ukraine face significant probabilities, as revealed by the Economic Experts Survey conducted quarterly by the ifo Institute and the Institute for Swiss Economic Policy.

"Geopolitical events, mentioned by 43%, and energy prices, cited by 33% of respondents, are identified as the main factors driving the heightened probabilities of recession," emphasizes ifo researcher Philipp Heil.

While concerns are somewhat alleviated in other European economies like Switzerland (17%), Ireland (20%), Spain (22%), France (23%), Italy (27%), Austria (29%), and Belgium (29%), these figures align with those of other major economies. Experts from the USA also estimate a similar likelihood of recession (26%).