Global economic growth is expected to slow down to 2.4% in 2024

The United Nations Department of Economic and Social Affairs has released the United Nations World Economic Situation and Outlook for 2024. This latest United Nations economic flagship report predicts that global economic growth is expected to slow down from 2.7% in 2023 to 2.4% in 2024.

Meanwhile, the report indicates that inflation is showing a downward trend in 2024, but the recovery of the labor market is still uneven. It is expected that the global inflation rate will further decline, dropping from 5.7% in 2023 to 3.9% in 2024. However, many countries still face significant price pressures and further escalation of geopolitical conflicts, which may lead to another rise in inflation.