2024 Global Macro Outlook

2024: A year of intensifying macro regime change?

Move away from the smooth global cycles we’ve know. The world’s economy is currently facing challenges, and 2024 might bring fluctuations. It’s wise to be prepared.

• We are observing shorter, sharper downturns: Global growth is slowing, and even mild recessions could occur. Inflation, however, is stubborn, and central banks may hesitate to cut rates as quickly as they hope.
  
  
• Fiscal fireworks: Governments are spending big, fueled by numerous commitments and upcoming elections. This could maintain higher risk premiums, potentially limiting long-term rate increases, even during economic downturns.
  
  
• Local heroes: Forget "one size fits all." Small, open economies and those reliant on exports encounter their own set of challenges and opportunities. Keep an eye out for the development of regional and country-specific trends. 
   

Read the full outlook to dive deeper into this new economic landscape and discover how to navigate the twists and turns of 2024.