As we head into 2024, we are downbeat on the prospects for global GDP growth. In our view, the global economy is likely to experience a period of below-trend growth in 2024, with the global economy expanding just 2.4%. Growth prospects are to be restrained by a U.S. economy likely to experience a mild recession in mid-2024, recessions in the Eurozone and U.K., as well as a Chinese economy that is decelerating amid structural challenges. We do, however, believe select economies can outperform and grow at above-trend rates. Asia, in particular India, should be the region and economy that stands out from a growth perspective.
As we head into 2024, we are downbeat on the prospects for global GDP growth. In our view, the global economy is likely to experience a period of below-trend growth in 2024, with the global economy expanding just 2.4%. Growth prospects are to be restrained by a U.S. economy likely to experience a mild recession in mid-2024, recessions in the Eurozone and U.K., as well as a Chinese economy that is decelerating amid structural challenges. We do, however, believe select economies can outperform and grow at above-trend rates. Asia, in particular India, should be the region and economy that stands out from a growth perspective.