Chief economists outlook: september 2024

The report explores key trends in the global economy, including the latest outlook for growth, inflation, monetary and fiscal policy, the implications of high public debt levels, and the prospects for a new growth agenda. The report shows the global economy has begun to stabilize, but many vulnerabilities remain. There are reasons for cautious optimism, notably including a continued gradual easing of inflation rates and a shift to looser monetary policy. However, the prolonged sluggish pace of global growth, compounded by heightened political volatility, leaves many countries vulnerable to economic shocks. Current debt dynamics are undermining government efforts to boost growth and leave countries poorly prepared for the next economic downturn. When it comes to the prospects for a new growth agenda, greater political consensus and international collaboration will be essential to balance the quality and quantity of growth.