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  "documentTitle": "Investor Perspectives Q1 2023",
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      "text": "February 13–22",
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      "text": "This pulse check, conducted February 13–22, 2023, indicates investors’ overall sentiment is significantly more positive than it was in the prior one in October 2022, when investors’ bullishness was at its weakest point for the series.",
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      "text": "Source: BCG Investor Perspectives Series, Q1 2023, February 13–22, 2023; n = 150. Note: For additional BCG perspectives on resilience, visit https://www.bcg.com/en-ca/capabilities/business-resilience. For BCG’s views on macroeconomic topics, visit https://bcghendersoninstitute.com/macro/. ¹The term current year referred to 2023 in this survey and to the remainder of 2022 in the October survey. ²The average across 22 investor pulse checks was calculated using the percentage of investors that were bullish for the current calendar year at the time of each survey.",
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      "text": "For 2023, investors remain concerned about elevated inflation and a potential recession. For 2024 and 2025, while inflation expectations stay elevated, investors are optimistic about growth in the US economy. Investors expect inflation to stay high through 2023, with a 4.5% median expectation for year-end; about 55% of investors believe that the US will experience a recession before the end of 2023, significantly less than 91% of investors in October 2022. For 2024 and 2025, investors expect inflation to stay above the Federal Reserve’s target level (3.6% median), and they anticipate a median real growth rate of 2.7% for the US economy.",
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      "text": "Inflation, the Federal Reserve’s policy on interest rates, and geopolitical risks continue to be the most important macroeconomic concerns. When asked about their top three concerns related to the macro economy, 79% of investors listed inflation, 69% listed interest rates and the Federal Reserve’s policy, and 39% pointed to geopolitical risk. Concerns related to other factors—such as tightening of liquidity, asset price risk, and the public sector’s debt spending—have increased.",
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      "text": "This pulse check, conducted February 13–22, 2023, indicates investors’ overall sentiment is significantly more positive than it was in the prior one in October 2022, when investors’ bullishness was at its weakest point for the series. For the current year, bullishness has increased, but it remains at relatively low levels, with 22% of investors bullish versus 5% in October 2022 (the series low) and versus the series average of 37%. For the next three years, 73% are bullish (an all-time series high) versus 62% in October 2022 and versus the series average of 61%.",
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      "text": "In the middle term, nearly 80% of investors view moderate to high growth (2.7% median real GDP growth) and elevated inflation (3.6% median) as the most likely macroeconomic scenario in the US for 2024 and 2025.",
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