Grasp in the face of jobs that are still steady and growing. obviously, companies are laying off, i m not naive to that about 236,000 jobs in the latest period and we talk about the restaurants still jam packed and theaters that are packed, you know, travel plans that are the busiest we ve seen since pre-covid, airlines to an airline reporting some dicey first quarter numbers, but almost to an airline hinting of robust travel season. with a backdrop like that, how could you have a recession? it s not your typical recession, as we know over the years when everybody is predicting it and my mom calls and asks if we re having a recession yet, that means it s not going to happen boys and girls, this could be the most telegraphed recession in history that never comes. and the fed, despite what erin said, i don t think recession, but 1% or 2% growth
Europe garlic much less allow that. frankly speaking china is in a slowdown we need to find other sources, other engines of growth. we know that asia and india are there as major higher growth environment for economies than china. i think that s where the growth is going to come for the next ten years. going to come for the next ten ears. going to come for the next ten ears, ,, , . years. the spanish vice president years. the spanish vice president and - years. the spanish vice president and ministerl years. the spanish vice i president and minister for economies president and ministerfor economies is the size of the chinese economy means it cannot be overlooked and that there s been a tectonic shift in the international world order. a north america business correspondent was speaking on the sidelines of the imf. you cannotjust the sidelines of the imf. you cannotjust ignore the sidelines of the imf. you cannot just ignore the - the sidelines of the imf. i m, cannotjust ignore th
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Are you perhaps holding back on some of those plans? so around the world we are seeing, at an industry level, a slowdown of construction. so that is definitely happening because of the availability of construction workers and what is happening. with lending. great brands get lended to. we actually can go to the banks and help get that landing but it is though. grand breaks are about 50% of what they were pre covert. we did see an acceleration to q4 and we expect to see an acceleration in 2024, but it is going to be a slower growth environment. but the amazing thing is about share. so today we have 4% of the global hotel supply but 11% of the global pipeline so nearly three times as much.
Of what they were pre covert. we did see an acceleration to q4 and we expect to see an acceleration in 2024, but it is going to be a slower growth environment. but the amazing thing is about share. so today we have 4% of the global hotel supply but 11% of the global pipeline so nearly three times as much. so you re definitely seeing us continue to gain market share around the world. inflation is in many countries now falling, but prices are still rising at a relatively fast pace. you ve said that that means furniture and fittings are increasing in cost by 10% or 20%. how much of that are you passing on to customers in terms of higher prices? so we saw our average rates