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U.S. may avoid recession in 2023, says Morgan Stanley Britain and the eurozone economies are likely to tip into recession next year, Morgan Stanley said in a series of reports published on Sunday, but the United States might avoid one thanks to a resilient job market. "The U.S. economy just skirts recession in 2023, but the landing doesn't feel so soft as job growth slows meaningfully and the unemployment rate continues to rise," the report said, predicting a 0.5% expansion next year. "The cumulative effect of tight policy in 2023 spills over into 2024, resulting in two very weak years," the report added. Morgan Stanley is predicting a sharp split between developed economies "in or near recession" while emerging economies "recover modestly" but said an overall global pickup would likely remain elusive.