Global Growth Forecast to Slow in 2023 and 2024 Amid High Rates and Economic Uncertainties
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Global economic growth is forecast to slow to 2.6% in 2024 due to high interest rates, energy prices, and slowdowns in the US and China.
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Most economists expect the global economy to avoid a recession, though some warn of mild recessions in Europe and the UK.
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The US is expected to achieve a soft landing, though uncertainty around Fed policy clouds the outlook.
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China's growth is seen weakening as companies seek cost-efficient production elsewhere.
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Major banks see global growth at 2.9% in 2023, slowing from 2022's growth.