CBRE calls for a mild recession in 2023. GDP is expected to be flat in 2023 with negative growth in H1 2023 and positive growth in H2 2023. Unemployment remains low but is expected to increase. Full employment and worker shortage will lead to further wage pressures. CBRE expects higher and more persistent inflation. Inflation is expected to remain above the long-run average of 3.3% until 2024.