There's some optimism about the global economy from one of the world's leading banks, Deutsche Bank.
The bank's chief investment officer for Private Banking, Christian Nolting, is tipping mild recessions in Europe and the US for 2023, "but improving dynamics in Asia where supply chains are all but resolved".
He's also flagging stabilising interest rates. "Price rises will moderate due to easing commodity prices, unchained supply chains and central bank action but inflation will remain a problem in 2023," he notes.
One of the bright spots for the year ahead is infrastructure, "the backbone of sustainably growing economies". That bodes well for the materials handling sector whose fate is so closely tied to infrastructure.
Nolting lists the risks as geopolitics (specifically, Taiwan), monetary policy errors, liquidity crises, real estate crashes, tech wars - and the "unknown unknowns".