Global GDP is set to grow by 2.9 percent in 2023 and 3.1 percent in 2024. Inflation, while seeming to have peaked in many economies, is still very high. As a result, central banks are likely to maintain tighter financial conditions, which will weigh on global growth. The United States and Europe can expect below-trend growth due to central bank interest rate hikes as well as lenders tightening credit conditions in the wake of failures, forced sales, and other banking strains. The United Kingdom could lag other advanced economies given its greater inflation challenges. Among emerging markets, China will enjoy an ... (full story)