Business

Global growth to slow over higher interest rates in major economies-Report

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% in 2024, according to an aggregation of forecasts by the consultancy Consensus Economics, down from the 2.4% the economy is expected to log this year.


According to a report gathered from the Financial Times, 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.