U.S. Economy: Slowdown and Stabilization Prospects The U.S. economy is expected to move to a lower growth rate in 2024, after reaching a higher-than-expected growth rate of 2.8% in 2023. J.P. According to Morgan’s forecasts, a lower growth rate of 0.7% is projected in 2024. The Deceleration of consumer spending and the decline in business investment and housing activity are among the main reasons for these forecasts. In addition, it is projected that the US Central Bank will keep interest rates steady in the December range of 5.25%- 5.5% until mid-2024 and then gradually reduce them.

Global Economy: Coming into Balance for the First Time According to the World Bank’s report, the global economy will stabilize in 2024 for the first time in the last three years, but growth rates will still remain low compared to the pre-COVID-19 period. the global growth rate for 2024 is projected at 2.6%, which will increase to 2.7% in 2025-26. These growth rates remain well below the average growth of 3.1% in the period 2010-2019.

Eurozone: If Inflation and Interest Rates are in the Eurozone, the European Central Bank (ECB) continues to keep interest rates high in order to combat inflation. Although the ECB is not going to increase interest rates in the second half of the year, it plans to maintain the current high levels. This may put pressure on economic growth, but is expected to help bring inflation under control.

In the light of this information, global and local economies are expected to continue to slow down in 2024 and economic policies are expected to adapt to this situation.