Dollar, Euro and Pound banknotes are seen in this picture illustration taken April 28, 2017. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights
Nov 27 (Reuters) – Some major banks expect global economic growth to ease further in 2024, squeezed by elevated interest rates, higher energy prices and a slowdown in the world’s two largest economies.
The global economy is forecast to grow 2.9% this year, a Reuters poll showed, with next year’s growth seen slowing to 2.6%.
Most economists expect the global economy to avoid a recession, but have flagged possibilities of “mild recessions” in Europe and the United Kingdom.
A soft landing for the United States is still on the cards, although uncertainty around the Federal Reserve’s monetary tightening path clouds the outlook. China’s growth is seen weakening, exacerbated by companies seeking alternative, cost-efficient production destinations.
Following are forecasts from major global banks:
The Fed’s main rate currently stands at 5.25%-5.50%.
As of 1107 GMT on Nov. 27, 2023:
S&P 500 (.SPX): 4,559.34
US 10-year yield : 4.4684%
EUR/USD : 1.0952
USD/CNY : 7.1524
USD/JPY : 148.97
Compiled by the Broker Research team in Bengaluru; Editing by Saumyadeb Chakrabarty and Anil D’Silva
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