Under the deteriorated global outlook, East Asia is projected to do much better than Europe and North America. Enjoying a windfall from the risen prices of primary commodities, Indonesia is also projected to perform well in 2023, if not, a little weaker than in 2022.

Going deeper into macroeconomic details, like household consumption and gauging conditions in some industries, offer a differentiated picture that strategists in governments and corporations will need to look into while striving to navigate the disrupted environment as winner.