Persistently higher interest rates in major economies mean global growth is likely to slow next year after outperforming expectations so far in 2023, economists say.
Output will expand 2.1 per cent in 2024, according to an aggregation of forecasts by the consultancy Consensus Economics, down from the 2.4 per cent the economy is expected to log this year.
Economists have upgraded their expectations of this year’s performance by 1 percentage point since the start of the year because of unexpectedly strong consumer demand and labour markets.
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