Global Economic Prospects

The prospects for the global economy are a function of convergence. While geopolitics drives economic volatility, societal shifts create uncertainty, and science and technology lead us down divergent paths. The World Economic Forum provided their thoughts in a recent article that looked at global economic prospects.

One of the biggest sources of this volatility will be geopolitics, according to the chief economists surveyed for the World Economic Forum’s latest Chief Economists Outlook. But the situation is also nuanced, the report suggests. More positive shifts appear likely, including drops in inflation and a slowdown in interest rate rises.

Aengus Collins, Kateryna Karunska — Where is the global economy heading in 2024? This is what chief economists think

Here are some of the key messages in the article:

• Expectations around China have slumped
• The outlook for the US economy has improved markedly since May
• Europe is facing weak or very weak growth this year
• The Middle East and North Africa is expected to see moderate or strong growth in 2023 and 2024
• Optimism is emerging when it comes to the outlook for inflation
• The pace of interest rate increases is expected to slow in inflation-prone economies

Originally published at http://frankdiana.net on September 15, 2023.