8 Market and Economic Predictions for 2023

7. DeVere Group: A More Positive Year

Nigel Green, chief executive of financial advisory and asset management firm deVere Group, forecasts a more positive year for markets in 2023 after this year’s turbulence.

“The landscape is already looking brighter for the year ahead,” he said. “We expect some key market, macro and policy shifts that will provide a significantly more positive outlook for investors in 2023.”

Inflation is likely to peak in most major economies, and low valuations for some high-quality stocks present appealing investment opportunities, he said. Also, dollar strength, which has hampered markets and raised import prices, should peak midyear, according to Green.

“Inflation will still be an issue for a while to come,” he said, suggesting investors look into recession-resistant stocks in sectors such as food, energy and financial services. “But it is likely that investors will be seeking to increase exposure to growth stocks towards the end of 2023 as cost of living eases and global growth picks up pace.”

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