The Chief Economist: The 2Q2024 Global Economic Outlook Review
Highlights
- Global growth slowing marginally.
- Dual drivers maintaining momentum.
- Inflation still decelerating.
- Interest rates not yet declining.
- CRE outlook turning favorable.
Welcome back to our new and regular readers to The Chief Economist, my name is Ryan Severino, CFA and I'm pleased to provide you with our latest on the global economic outlook. Let's dive right in!
Through the first quarter of the year, the global economy maintained the momentum it had at the end of 2023. Overall, growth for this year should fall roughly in line with the rate from 2023. However, we foresee greater divergence between major economies this year across multiple facets, as the world increasingly moves away from much of the global synchronization that occurred during the pandemic. What does this divergence look like and what does it mean for commercial real estate (CRE)?
