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According to a survey conducted on Thursday by American investment bank and financial services company JP Morgan, 65 percent of business leaders in the US believe a recession is likely to occur in 2023.

The 2023 Business Leaders Outlook survey found that leaders who participated were significantly less enthusiastic about the global economy than they were a year earlier.

Only 8% of people, compared to 34% a year ago, are optimistic about the state of the world economy, according to the report.

This year, only 22% of the leaders expressed optimism about the US economy, a dramatic decline from 50% in 2022.

According to the poll, the vast majority of companies (86 percent) predicted that their revenues will rise or stay the same in 2023.

Despite the dire predictions for the economy, around 90% of them want to keep or hire more staff in the coming year.

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