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Recession, inflation, Ukraine, China, monetary policy... 2023 as seen by Jean-Christophe Caffet, Coface Chief Economist

The French media Wansquare asked a panel of economists and leaders of large companies to give their forecasts for 2023. Read the answers Jean-Christophe Caffet, Chief Economist at Coface, gave them.

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China reopening has a positive but gradual impact on consumption

China has started its reopening process faster than expected. The economic, social, and fiscal costs of the zero-covid policy have created many uncertainties for the economy. Here is our forecast for 2023.

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Lithium: large-scale industrial opportunities but limited medium-term supply

With the conversion to electric or hydrogen vehicles under greater scrutiny than ever, lithium is making its mark as a strategic raw material of vital importance.

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A cold chill on the global economy - Q3 2022 Barometer

Beyond the repercussions of the war in Ukraine, the global monetary tightening and the multiple constraints on Chinese growth paint a gloomy outlook. In the short term, the economy seems to be settling into a regime of "stagflation", where almost no growth and rapidly rising prices coexist. The possibility of a global recession, meanwhile, is becoming clearer.
In this context, Coface is making general downward revisions to its GDP growth forecasts and its country and sectoral assessments. Check them out!

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Moody’s affirms Coface’s ratings, changes outlook to positive

The rating agency Moody’s, on 11th October 2022, has confirmed the financial strength rating (Insurance Financial Strength Rating – IFSR) for Coface at A2. The agency has also changed the outlook for Coface to positive from stable.

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Germany Corporate Payment Survey 2022: Battered companies prepare for another crisis

The impact on corporate payments in 2022 appears to be moderate and comparatively lower than the shock on the economy. However, companies are vigilant in the short-term and very pessimistic about the future.

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Asia-Pacific: companies face rising credit risks despite shorter payment delays

Coface's 2022 Asia Corporate Payment Survey, conducted between November 2021 and February 2022, provides insights into the evolution of payment behaviour and credit management practices of about 2,800 companies across the Asia-Pacific region during another pandemic year. Respondents came from nine markets (Australia, China, Hong Kong SAR, India, Japan, Malaysia, Singapore, Thailand and Taiwan) and 13 sectors located in the Asia-Pacific region.

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A recession to avoid stagflation? The world economy at a crossroads

Four months after the start of hostilities in Ukraine, first lessons can be drawn.
Which countries and sectors are doing best? Which ones are going to face major difficulties?
Read the forecasts from our Q2 Barometer now.

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Coface and Al Rajhi Takaful enter a strategic partnership in credit insurance

Coface and Al Rajhi Takaful, one of the largest financial institutions and insurance company in the Kingdom of Saudi Arabia, have entered into a strategic partnership to distribute credit insurance solutions and help Saudi Companies boost their growth in their domestic and export markets.

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Medium & long-term knock-on effects of the war in Europe on global sectors trends: will there be resilient sectors?

In the short run, all sectors for which Coface publishes sector risk assessments in six regions worldwide will be impacted by the knock-on effects of Russia’s invasion of Ukraine. Which ones would be the most resilient sectors? Read our full study now!

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Discover Broker Portal Insights, our new video series

Discover the Coface Broker Portal with Broker Portal Insights, our new video series!

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Coface China Corporate Payment Survey: Increasing risks in supply chain disruptions and rising raw material prices

Coface's 2022 China Corporate Payment Survey shows that fewer firms encountered payment delays in 2021, but those that did report longer periods of overdue payments than in the previous year. The average payment delay rose from 79 days in 2020 to 86 days in 2021. Firms in 9 out of 13 sectors reported an increase in payment delays, led by agri-food, which recorded the largest increase of 43 days, followed by wood, transport, and textile.

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War in Ukraine: Many (big) losers, few (real) winners

More than two months after the start of the war in Ukraine, of Russia’s invasion of Ukraine on 24 February, prospects for a rapid resolution of the war seem increasingly unlikely.

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CEE company insolvencies on the rise

Various economic conditions, support measures and legal changes have affected insolvency trends in the Central and Eastern Europe region over the last two years.

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3M-2022 Financial Results: a strong start to the year with a net income of €66.2m

Coface releases its 3M-2022 Financial Results: a strong start to the year with a net income of €66.2m.

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Coface increases its footprint in New Zealand with the opening of a local branch

Global Credit insurer Coface today announces it has opened a branch in New Zealand after receiving the approval from the Reserve Bank of New Zealand on 1 April.

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Economic consequences of the Russia-Ukraine conflict: Stagflation ahead?

The Russia-Ukraine conflict has triggered turmoil in the financial markets, and drastically increased uncertainty about the recovery of the global economy. Since our last publication, the world has shifted, so have the risks.

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Barometer Q4 2021: The global recovery continues in 2022, but a bumpy road lies ahead

Two years after the onset of the pandemic, the global economy continues to recover, but still faces significant challenges. Download the Coface Q4 2021 Country & Sector Risk Barometer and its press release here.

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Morocco Corporate Payment Survey 2021: shortened delays but still widespread late payments

According to Coface's 2021 study on the payment behaviour of companies in Morocco, contractual payment terms in the country remain long, reaching an average of 79 days. However, they have improved significantly, with a shorter duration of about 14 days compared to the previous survey conducted in 2019.

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Examining the euro, 20 years on

To mark the 20th anniversary of the euro’s introduction into European wallets, Coface's economic research team has examined the effects that this change has had in macroeconomic terms.

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