Global Economic Outlook: Stable but Slowing Growth
The October 2024 report on global economic prospects reveals a stable but slower-than-expected growth rate. Upward revisions to forecasts for the United States have offset declines in other advanced economies, particularly in Europe.
In parallel, prospects for certain emerging and developing economies have been downgraded due to disruptions in raw material production and transportation, conflicts, and extreme weather conditions, which have particularly affected the Middle East, Central Asia, and Sub-Saharan Africa.
However, emerging Asia stands out positively, benefiting from strong demand for semiconductors and electronic products, driven by investments in artificial intelligence. China and India, in particular, have reinforced this dynamic with significant public investments.
Over the next five years, global growth is expected to settle around 3.1%, a figure lower than pre-pandemic performances.
Regarding inflation, global disinflation continues, but service price inflation remains a concern in many regions. The report highlights the need to adjust monetary policies according to sectoral dynamics.
In the short term, policy priorities must be adjusted to avoid major economic shocks, while structural reforms will be necessary to stimulate medium-term growth, while supporting the most vulnerable populations.
