No crisis but no growth either

According to Bloomberg Economics, the global economy will experience its slowest non-crisis growth year since the burst of the dot-com bubble in 2024. According to Bloomberg Economics, the global economy, which grew by 3.1 percent in 2023, will grow by 2.7 percent in 2024. Leaving aside the global financial crisis in 2009 and the Covid pandemic in 2020, this marks the slowest growth rate since the burst of the dot-com bubble in 2001. However, according to Bloomberg Economics Chief Economist Tom Orlik, a year of slow global growth is a small price to pay for keeping inflation under control. BE, which predicts that central bank monetary policies will also begin to ease in response to slowing growth, expects the Fed to cut interest rates by 125 basis points in 2024. Bloomberg Economics expects a recession in the UK and stagnation in the eurozone, while it forecasts that growth in advanced economies as a group will slow from 1.5% in 2023 to 0.9% in 2024. Emerging markets will also face a slowdown. In China, real estate woes will continue to weigh on growth, while India will continue to outperform relatively. Bloomberg Economics expects growth in emerging markets to slow to 4.1% from 4.4%. Economists see global inflation at 5.4% by the end of 2024, down from 6.2% at the end of 2023.