Investment Institute

Outlook 2024

Mid-cycle adjustment, not end-cycle crash

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Our views for 2024

For 2024 we expect lower growth, lower inflation and limited interest rate easing. We expect global GDP growth will reach 2.8%, down from an expected 3.0% in 2023 but anticipate acceleration in 2025. 2024 will be significant politically with the US Presidential Election likely to be most consequential globally.

There will only be limited scope for rate cuts until there is evidence of easing labour market pressures.

Chris Iggo
AXA IM CIO, Core Investments, and Chair of the AXA IM Investment Institute
Regional Outlooks

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