Insight
Global economic outlook Q2 2024: sticky inflation delays rate cuts and growth pivot
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
We forecast global GDP growth to slow in 2024. Interest rate cuts in developed economies may be delayed and tempered as inflation looks sticky in key economies. However, we expect 2024 to be a pivotal year as consumption rebalances from services to goods, and investment accelerates as monetary conditions ease eventually. These drivers and the inventory cycle will aid a recovery in industrial production (IP) which slumped in 2023. We foresee IP accelerating in 2024 and 2025. Non-macroeconomic risks remain elevated. Top of the list are geopolitical shocks. Political uncertainty is high, with numerous pivotal elections slated for 2024, the outcomes of which will determine paths for fiscal and trade policy.
Table of contents
- Executive summary
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
China economic focus April 2025: surviving the trade war
China’s strategy to mitigate the economic damage from the trade war
$1,150
Insight
Global economic outlook Q1 2025: can momentum trump uncertainty?
The global economy has good momentum, but a tariff war looms.
$1,150
Insight
Global economic outlook Q4 2024: brace for protectionism
Global economy stronger after revision to US economic growth, but protectionism risk rises on Trump’s victory.
$1,150
