Global economy to slow substantially in 2023, says the World Bank.

The global economy is set to slow substantially in 2023, according to a new report from the World Bank. The lagged and current effects of monetary tightening, as well as more restrictive credit conditions, are expected to weigh on activity in the second half of the year, with weakness persisting into 2024. Excluding China, growth in emerging market and developing economies (EMDEs) is set to decline markedly, with the outlook weakest in countries with elevated fiscal and financial vulnerabilities. The resurgence of recent banking sector turmoil represents a serious risk. Widespread financial stress could have especially severe economic consequences.

United Nations: The 2023 Financing for Sustainable Development Report 

The 2023 Financing for Sustainable Development Report: Financing Sustainable Transformations warns of a lasting sustainable development divide as SDG financing needs are growing but development financing is not keeping pace. It calls on the international community to align financing with sustainable development by combing three sets of actions. First, scale up development cooperation and SDG investment. Second, strengthen the international financial architecture. Third, accelerate national sustainable industrial transformations.

Download the 2023 Financing for Sustainable Development Report: Financing Sustainable Transformations

UN Report > Global trade slows, but “green goods” grow

According to a new report from the United Nations Conference
on Trade and Development (UNCTAD), global trade was worth a record $32 trillion in 2022, but amid deteriorating economic conditions and rising uncertainties, growth turned negative in the last half of the year and is set to stagnate in the first half of 2023.

The silver lining was the strong performance of trade in environmentally friendly “green goods,” says UNCTAD’s latest Global Trade Update.

“This is good news for the planet,” says Alessandro Nicita, one of the report’s authors, “as these goods are key to protecting the environment and fighting climate change.”

Update: Sustainability for a better world

Business trends in 2023 revolve around corporate sustainability. From adopting the circular economy to cleaning up the global supply chain, 2023 is the year that companies must put sustainability in business into action. University of Navarra IESE Business School professors explore ways to put sustainability at the heart of business.

Learn More

OpenAI Co-founder Greg Brockman on ChatGPT and Generative AI @ SXSW 2023

The past year proved that AI is here to stay.

In this session at SXSW 2023 in Austin, Greg Brockman, OpenAI’s co-founder and president, discussed the future that is here already and the ethical guardrails that come along with this new era of innovation. The conversation provides an insider’s look at the research lab behind popular creative tools “DALL·E” and “ChatGPT” and some of the most sophisticated advances in AI.

SXSW dedicates itself to helping creative people achieve their goals. Founded in 1987 in Austin, Texas, SXSW is best known for its conference and festivals that celebrate the convergence of the interactive, film, and music industries. An essential destination for global professionals, this year’s online event features sessions, showcases, screenings, exhibitions, professional development and a variety of networking opportunities.

World Economic Forum: From Mass Data to Mass Insights @ Davos 2023

New technologies to generate insights without exposing the underlying data is ushering in a new era for value creation in the digital economy. This session at Davos 2023 focused on mapping the genome to reducing the carbon footprint, and on how business leaders unlock value from data collaboration at scale.

The session was part of the ongoing Digital Transformation of Industries Initiative of the World Economic Forum. The World Economic Forum is the International Organization for Public-Private Cooperation.

New > Global Risks Report 2023

The Global Risks Report 2023, developed in collaboration with Marsh McLennan and Zurich Insurance Group, is part of the World Economic Forum’s Global Risks Initiative. The report details major risks the world will be facing in the coming years.

IMF Forecast: Global Recession in 2023

The International Monetary Fund (IMF) cut its global growth forecast for 2023 amid colliding pressures from the war in Ukraine, high energy and food prices, inflation and sharply higher interest rates, warning that conditions could worsen significantly next year.

“For many people, 2023 will feel like a recession,” said IMF Research Development Director Pierre-Olivier Gourinchas.

The latest World Economic Outlook forecasts show that a third of the world economy will likely contract by next year, marking a sobering start to the first in-person IMF and World Bank annual meetings in three years. The IMF said global GDP growth next year will slow to 2.7 per cent, compared to a 2.9 per cent forecast in July, as higher interest rates slow the U.S. economy, Europe struggles with spiking gas prices and China contends with continued COVID-19 lockdowns and a weakening property sector.

ProMat 2023: Experience the Ultimate Supply Chain Bliss

As the material handling and logistics industry’s premier global event, ProMat brings manufacturing and supply chain solution providers and buyers together to learn, engage and connect. From next generation technology to exciting new efficiencies, the future will be within reach at ProMat 2023, along with attendees that control $65 billion of purchasing power and tell us year-after-year that their number one reason for attending is to see what’s new and what’s next.

On March 20-23, manufacturing and supply chain professionals will have an unrivaled face-to-face opportunity to network, learn, share, and get a sneak preview of where our industry is headed.

Show-off Your Latest Solutions

If you have something new to share, ProMat is the place to show the world. ProMat attendees want to see what the future of the industry looks like, as do the distributors, reporters, editors and trade press publishers who come to this premier event. There’s no better time to introduce new solutions and services to market than when you’re face to face with a captive audience of manufacturing and supply chain professionals strong.

Translate Global Exposure into Global Sales

Your space at ProMat opens a whole new set of international doors. We target business prospects from more than 145 countries through our comprehensive, globally-minded marketing plan and website. The International Visitors Center even offers interpreters to help you turn international prospects into new customers.

Top of Mind Means an Improved Bottom Line

Now’s the time for your brand to break from the pack and make a big impression. The global supply chain is evolving, and it’s imperative that customers regard you as a solutions provider operating on the leading edge of the industry. Exhibiting at ProMat puts your business in front of buyers at the biggest event of its kind in North and South America.

Make a Deal With a New Business Partner

New customers and sales leads are only half of the ProMat story. There’s also the potential to meet possible business partners and product developers. There’s no better place to connect with other exhibitors and network with new distributors and channel partners looking to switch up existing product lines.

ProMat 2023 gives you a hands-on look at the future of manufacturing and supply chain. Now more than ever, you’re looking for greater efficiency, reliability, and resiliency for your operations — ProMat is the place to find more of these solutions.

So whatever solutions you need to move your business forward, you’ll find them all at ProMat 2023, at McCormick Place in Chicago.

Register today at promatshow.com

New Registration Open for WOC 2023 in Las Vegas

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Jan. 16-19 at the Las Vegas Convention Center

Part knowledge, part equipment, part connections—World of Concrete is 100% of what you need to keep grinding it out through disruptions to the supply chain, safety and beyond. Get your hands on advanced technology and machinery, access the newest training and techniques in concrete and masonry, and build momentum for another unstoppable year.

Original equipment manufacturers from around the world and exclusive U.S. distributors of equipment, tools, products and services for the commercial construction, concrete and masonry industries. WOC attracts approximately 1,500 exhibiting companies and occupies more than 700,000 square feet of indoor and outdoor exhibit space.

More than 60,000 industry professionals from all around the world, representing all segments of the construction industry: Commercial Contractors, Concrete Contractors, Concrete Pumpers, Construction Managers, Dealers/Distributors, Decorative Concrete Contractors, Designers and Specifiers, General Contractors, Block/Segmental Unit Producers Masonry Contractors, Architects, Engineers, Block Producers, Ready Mix Producers, Rental Equipment Centers, Repair Contractors, Residential Contractors, Specialty Concrete Contractors, Precast, Pipe and Block Producers, Precast/Prestressed Producers, and more.

WOC 2023, will be held Jan. 17-19 (Education, Jan. 16-19) at the Las Vegas Convention Center. There is no onsite registration. All attendees must register online, before coming to the show to receive a printed badge onsite. Confirmation letters will contain a barcode to easily print out your badge once you arrive onsite.

Register now for World of Concrete 2023