Bloomberg now expects 2023 to be one of the worst years for the world economy since 1993. But don’t panic — here are 3 stocks to help protect you from the painThe world economy has largely bounced back from the COVID-19 pandemic, but dark times could lie ahead according to Bloomberg. Economist Scott Johnson at Bloomberg Economics forecasts that the world economy will grow 2.4% in 2023, marking a slowdown from the 3.2% growth expected for this year. 2.4% would be the slowest growth since 1993 — except for the crisis years of 2009 and 2020. His analysis also shows the US economy entering a recession at the end of 2023. For the euro area, a recession is expected at the start of the year.”In the US, with wage gains set to keep inflation above target, we think the Fed is headed toward a terminal rate of 5%, and will stay there till 1Q24,” Johnson writes. “In the euro area, meanwhile, a more rapid decline in inflation will mean a lower terminal rate and the possibility of cuts at the end of 2023.” The prospect of a recession does not bode well for stocks. US GDP demonstrated growth in Q3 and the S&P 500 is still down 19% year-to-date. Of course, some businesses are more resilient than others. Here’s a look at three companies capable of making money through thick and thin. Wall Street also sees significant upside in this trio. Don’t miss Southern CoSouthern (NYSE:SO) is a gas and electric utility holding company headquartered in Atlanta. It serves about nine million customers. The utility sector is known for being a defensive play. No matter how many times the Fed raises interest rates — and how bad next year turns out to be — people still need to heat their homes in the winter and turn the lights on at night. The recession-proof nature of the business also means Southern can pay reliable dividends. Story continuesIn April, the company boosted its quarterly payout by 2 cents per share to 68 cents per share, marking the 21st consecutive year that Southern has increased its dividend. Look further back, and you’ll see that the company has paid steady or increasing dividends since 1948.In the first nine months of 2022, Southern earned an adjusted profit of $3.35 per share, up 9.8% from the same period last year.Last Wednesday, Wells Fargo analyst Neil Kalton raised his price target on Southern from $70 to $77. While he kept an Equal Weight rating on the shares, the new price target implies a potential upside of 11%. KrogerThe economy moves in cycles, but people always need to shop for food. As a result, Kroger (NYSE:KR) can make money through our economy’s ups and downs. That’s one of the reasons why in an era where physical stores are under serious threat from online merchants, Kroger remains a brick-and-mortar beast. Read more: The 10 best investing apps for ‘once-in-a-generation’ opportunities (even if you’re a beginner)The company has expanded its online presence, too. Kroger’s digital sales in 2021 clocked in at 113% higher compared to two years ago. You can see Kroger’s resilience in its dividend history: the company has increased its payout to shareholders for 16 consecutive years. Evercore ISI analyst Michael Montani recently upgraded Kroger from ‘in line’ to ‘outperform’ with a price target of $56 — implying a potential upside of 26% from where the stock sits today. -resistant business. Whether the economy is booming or struggling, a can of Coke is affordable for most people. The company’s entrenched market position, massive scale, and portfolio of iconic brands — including names like Sprite, Fresca, Dasani and Smartwater — give it plenty of pricing power. Add solid geographic diversification — its products are sold in more than 200 countries and territories around the globe — and it’s clear that Coca-Cola can thrive under all circumstances. After all, the company went public more than 100 years ago. More impressively, Coca-Cola has increased its dividend for 60 consecutive years. The stock currently yields 2.8%. UBS analyst Peter Grom has a ‘buy’ rating on Coca-Cola and a price target of $68 — roughly 9% above where the stock sits today. What to read next ‘Hold onto your money’: Jeff Bezos says you might want to rethink buying a ‘new automobile, refrigerator, or whatever’ — here are 3 better recession-proof buysWant to invest your spare change but don’t know where to start? Try this investing app before Dec. 31 and get paid $20 Millions of Americans are in massive debt in the face of rising rates. This free service helps you save on interest payments. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.