The latest quarterly forecasts from Euromonitor International show gradual improvements to the 2024 economic outlook due to strong labour markets, easing inflation and recovering supply conditions.

Economic normalisation is underway, but the global real GDP growth estimate sits below potential due to the lagging effects of high interest rates and ongoing cost pressures.

In H2 2024, further deceleration of inflation and loosening monetary policy are expected to support a steady growth momentum that carries into 2025.