6 Chief Economists Outlook they expect businesses to cut operational expenses and 78% expecting workers to be laid off. More than three-quarters (77%) of respondents also expect businesses to optimize their supply chains. The survey also asked chief economists to highlight any sources of optimism in the current global economic context. Three factors were mentioned repeatedly: the strength of household balance sheets, the peaking of inflation and the resilience of labour markets. Respondents also highlighted the prospects of a rebound in China following the shift away from zero-COVID policies, as well as economic opportunities in the energy transition, relative resilience in some emerging markets and continued workplace flexibility for knowledge workers.