© Reuters. SUBMIT PHOTO: Dollar, Euro and Pound banknotes are seen in this image illustration taken April 28, 2017. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) – Financial experts predict slower global economic growth for 2024. According to a Reuters survey, the global economy is expected to grow 2.9% this year, with growth slowing to 2.6% next year.
Most analysts expect the global economy to avoid a recession but have warned of the possibility of slight economic downturns in Europe and the United Kingdom.
The United States is expected to have a soft landing, but uncertainty surrounding the Federal Reserve’s monetary policy clouds the outlook. Similarly, China’s growth is projected to weaken due to businesses seeking alternative, cost-effective production areas.
Here are projections from major global banks:
Genuine GDP growth projections for 2024
Goldman Sachs: 2.60% (Worldwide), 2.10% (U.S.), 4.80% (China), 0.90% (Euro), 0.6% (UK), 6.3% (India)
Morgan Stanley: 2.80% (Worldwide), 1.90% (U.S.), 4.20% (China), 0.50% (Euro), -0.1% (UK), 6.4% (India)
UBS: 2.60% (Worldwide), 1.10% (U.S.), 4.40% (China), 0.60% (Euro), 0.6% (UK), 6.2% (India)
Barclays: 2.60% (Worldwide), 1.20% (U.S.), 4.40% (China), 0.30% (Euro), 0.1% (UK), 6.2% (India)
J.P.Morgan: 2.20% (Worldwide), 1.60% (U.S.), 4.90% (China), 0.40% (Euro), 0.2% (UK), 5.7% (India)
HSBC: 4.90% (Worldwide)
BofA Global Research study: 2.8% (Worldwide), 1.4% (U.S.), 4.8% (China), 0.50% (Euro), 0.1% (UK), 5.7% (India)
Deutsche Bank: 2.4% (Worldwide), 0.6% (U.S.), 4.7% (China), 0.20% (Euro), 0.3% (UK), 6.0% (India)
U.S. inflation (annual Y/Y for 2024) and Federal funds target rate (Dec 2024)
Goldman Sachs: 2.40% (CPI), 2.60% (Core PCE), 5.13%
Morgan Stanley: 2.10% (CPI), 2.70% (Core PCE), 4.375%
UBS: 2.70% (CPI), 2.75% (Core PCE)
Wells Fargo: 2.50% (CPI), 2.60% (Core PCE), 4.75%-5.00%
Barclays: 2.70% (CPI), 5.25%-5.50% (Core PCE)
J.P.Morgan: 2.50% (CPI), 2.50% (Core PCE), 4.50%
BofA Global Research study: 2.80% (CPI), 4.50%-4.75% (Core PCE)
Deutsche Bank: 2.10% (CPI), 3.63% (Core PCE)
Since the Fed’s main rate currently stands at 5.25%-5.50%
U.S. 10-year target yield
Goldman Sachs: 4700, 4.55%
Morgan Stanley: 4500, 1.140, 7.5
UBS: 4600, 3.60%, 1.15, 130, 7.15
Wells Fargo: 4600-480, 4.75%-5.25, 1.08-1.1, 136-140
Barclays: 4.25%, 1.09, 145, 7.20
J.P.Morgan: 3.75%, 1.13, 146, 7.15
BofA Global Research study: 5,000, 4.25%, 1.15, 142, 6.90
Deutsche Bank: 1.10, 135, 5100, 4.10%
Societe Generale: 4750, 3.75%, 1.15
Social media Sharing links:
Newswires
Related …