The resilience of most economies defied all expectations. Considerable interest rate hikes have neither led to major production losses nor soaring unemployment.
The current global slowdown is expected to last until the middle of the year when an economic turnaround takes effect. As the world’s central banks lower their policy rates, global growth is expected to pick up momentum and hit 2.9 per cent in 2025, near levels seen in pre-pandemic years.
Global growth is primarily being held back by the sluggish economic performance of 德国 and 中国 – the growth engines of 欧洲 and Asia – but the US economy is steaming ahead at a steady pace.
与此同时, geopolitical tensions around the world may lead to supply chain disruptions, fluctuations in commodity prices and rising uncertainty for companies and investors.
Get the full analysis in this year's first edition of Global Economic Outlook which presents a special feature on how the Red Sea shipping crisis is affecting world trade.
