2024 Economic Forecast: Slower Growth Ahead But Soft Landing Still Possible
• Analysts divided on whether economy will "soft land" or slow more significantly in 2024, with GDP forecasts ranging from 1.4% growth to a 0.5% contraction
• Consumer spending expected to continue driving economy, but likely at slower pace than 2023
• Interest rates forecast to fall around 75 basis points from peak levels, supporting economic growth
• Bonds likely to outperform in 2024 as rates drop, with forecasted annualized returns up to 5.8%
• Stock markets predicted to dip in early 2024 before rebounding, with S&P 500 year-end targets clustered around 4,700 to 4,875 level