Worries over the COVID-19 pandemic’s effects on the economy have started to fade, according to a recent McKinsey Global Survey. Sven Smit, chair of insights and ecosystems and chair of the McKinsey Global Institute, and colleagues found that only 3 percent of executives consider COVID-19 to be a top risk to global economic growth, down from 86 percent at the start of the pandemic. Geopolitical instability and inflation remain top concerns, with unease about market volatility on the rise.
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A line graph shows quarterly results of respondents’ opinions about the COVID-19 pandemic as a potential risk to economic growth over the next 12 months, domestically and globally. The overall results show that since Jan 2022, the worry about COVID-19 has dropped precipitously to ~10% of respondents.
Footnote 1: In Mar 2020, n = 1,152; in June 2020, n = 2,222; in Sept 2020, n = 1,138; in Dec 2020, n = 1,382; in Mar 2021, n = 1,018; in June 2021, n = 1,010; in Sept 2021, n = 958; in Dec 2021, n = 955; in Mar 2022, n = 785; in June 2022, n = 899; in Sept 2022, n = 1,242; in Dec 2022, n = 1,192; and in Mar 2023, n = 871. Mar 2023 data reflect responses in the most recent survey, which was in the field Mar 27–31, 2023.
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To read the survey results, see “Economic conditions outlook during turbulent times, March 2023,” April 28, 2023.
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