The global economy has witnessed a sustained period of resilient growth as it enters the second half of 2024, driven by falling inflation and better-than-expected employment and private consumption. Short-term growth prospects, however, will be undermined by a still-high interest rate environment, while a potential cooling down of the labour market and growing political uncertainty will affect global business and consumer confidence.
In Euromonitor International’s Q3 2024 baseline forecast, global real GDP growth is expected to reach 3.0% in 2024 and 3.1% in 2025. Global inflation will ease to 6.6% in 2024, before it moderates further to 3.9% in 2025.
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The article is property of Euromonitor International, a data analytics company, and you can find it here.
