Global Birth Rate Plummets 4.5% in 2023, Portending Slower Economic Growth Ahead
- Global birth rate fell 4.5% in 2023 from 2022, according to HSBC Global Research
- Declining global population will slow economic growth, says HSBC Economist James Pomeroy
- Smaller workforce and weaker per capita growth anticipated
- Governments face rising costs to support aging populations
- Migration deemed critical to address labor shortages