Political clarity and stimulus policies improve domestic outlook for 2024.
In the fourth quarter of 2023, InnovestX Securities expects the global economy to slow down significantly, with three main themes:
Synchronised slowdown: The global economy in the third quarter slowed as we expected. Preliminary purchasing managers’ index (PMI) figures for large economies around the world signal a concerted slowdown continuing.
Higher for longer: We expect the US policy interest rate to remain constant at the current level of 5.4% until the end of the year. The decision at last week’s Federal Open Market Committee meeting to hold the federal funds rate at the current level, with some members projecting the rate to stay at that level for the rest of the year, is a case in point.
US and the rest: We project a chasm…
