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World economic outlook 2024
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<blockquote data-quote="Mayhem" data-source="post: 254077" data-attributes="member: 9738"><p>Do members here feel or sense a real downturn in financial markets this year, off the back of Covid/rising inflation tackling measures?</p><p></p><p><strong>WASHINGTON, Jan. 9, 2024</strong>— <a href="https://www.worldbank.org/en/news/press-release/2024/01/09/global-economic-prospects-january-2024-press-release#" target="_blank">As the world nears the midpoint of what was intended to be a transformative decade for development, the global economy is set to rack up a sorry record by the end of 2024</a> —the slowest half-decade of GDP growth in 30 years, according to the World Bank’s latest <em>Global Economic Prospects </em>report.</p><p></p><p>By one measure, the global economy is in a better place than it was a year ago: the risk of a global recession has receded, largely because of the strength of the U.S. economy. But mounting geopolitical tensions could create fresh near-term hazards for the world economy. Meanwhile, the medium-term outlook has darkened for many developing economies amid slowing growth in most major economies, sluggish global trade, and the tightest financial conditions in decades. <a href="https://www.worldbank.org/en/news/press-release/2024/01/09/global-economic-prospects-january-2024-press-release#" target="_blank">Global trade growth in 2024 is expected to be only half the average in the decade before the pandemic</a> . Meanwhile, borrowing costs for developing economies—especially those with poor credit ratings—are likely to remain steep with global interest rates stuck at four-decade highs in inflation-adjusted terms.</p><p></p><p>Global growth is projected to slow for the third year in a row—from 2.6% last year to 2.4% in 2024, almost three-quarters of a percentage point below the average of the 2010s. Developing economies are projected to grow just 3.9%, more than one percentage point below the average of the previous decade. After a disappointing performance last year, low-income countries should grow 5.5%, weaker than previously expected. By the end of 2024, people in about one out of every four developing countries and about 40% of low-income countries will still be poorer than they were on the eve of the COVID pandemic in 2019. In advanced economies, meanwhile, growth is set to slow to 1.2% this year from 1.5% in 2023.</p><p></p><p></p><p></p><p></p><p></p><p>[URL unfurl="true"]https://www.worldbank.org/en/news/press-release/2024/01/09/global-economic-prospects-january-2024-press-release#:~:text=Global%20growth%20is%20projected%20to,average%20of%20the%20previous%20decade.[/URL]</p></blockquote><p></p>
[QUOTE="Mayhem, post: 254077, member: 9738"] Do members here feel or sense a real downturn in financial markets this year, off the back of Covid/rising inflation tackling measures? [B]WASHINGTON, Jan. 9, 2024[/B]— [URL='https://www.worldbank.org/en/news/press-release/2024/01/09/global-economic-prospects-january-2024-press-release#']As the world nears the midpoint of what was intended to be a transformative decade for development, the global economy is set to rack up a sorry record by the end of 2024[/URL] —the slowest half-decade of GDP growth in 30 years, according to the World Bank’s latest [I]Global Economic Prospects [/I]report. By one measure, the global economy is in a better place than it was a year ago: the risk of a global recession has receded, largely because of the strength of the U.S. economy. But mounting geopolitical tensions could create fresh near-term hazards for the world economy. Meanwhile, the medium-term outlook has darkened for many developing economies amid slowing growth in most major economies, sluggish global trade, and the tightest financial conditions in decades. [URL='https://www.worldbank.org/en/news/press-release/2024/01/09/global-economic-prospects-january-2024-press-release#']Global trade growth in 2024 is expected to be only half the average in the decade before the pandemic[/URL] . Meanwhile, borrowing costs for developing economies—especially those with poor credit ratings—are likely to remain steep with global interest rates stuck at four-decade highs in inflation-adjusted terms. Global growth is projected to slow for the third year in a row—from 2.6% last year to 2.4% in 2024, almost three-quarters of a percentage point below the average of the 2010s. Developing economies are projected to grow just 3.9%, more than one percentage point below the average of the previous decade. After a disappointing performance last year, low-income countries should grow 5.5%, weaker than previously expected. By the end of 2024, people in about one out of every four developing countries and about 40% of low-income countries will still be poorer than they were on the eve of the COVID pandemic in 2019. In advanced economies, meanwhile, growth is set to slow to 1.2% this year from 1.5% in 2023. [URL unfurl="true"]https://www.worldbank.org/en/news/press-release/2024/01/09/global-economic-prospects-january-2024-press-release#:~:text=Global%20growth%20is%20projected%20to,average%20of%20the%20previous%20decade.[/URL] [/QUOTE]
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