McKinsey – Global Economic Intelligence, June 2024

The global economic outlook for June 2024 is mixed, with some positive indicators but caution among consumers. Developed economies are experiencing a deceleration in inflation, while trade volumes are down. The IMF predicts global growth to fall from 3.5% in 2022 to 3.0% in 2024. Consumer confidence is improving, particularly in Brazil, but major purchases are still approached cautiously. Central banks are keeping inflation expectations in check, with the Federal Reserve and European Central Bank raising interest rates. In terms of GDP growth, the US and Eurozone have seen modest increases, while China’s GDP has shown growth. The labor market remains tight in many countries, and equity markets in India, Japan, and the US have extended gains. Real estate demand in major cities is expected to remain below pre-pandemic levels due to the shift to hybrid work models.Overall, the global economic landscape is facing challenges, but certain regions and sectors are showing resilience and growth.