the latest set of projections foresee a period of reliable global growth.
Growth rates beat expectations
Economic growth figures released over the summer generally proved stronger than analysts had expected. Global growth for the whole of 2024 is now likely to be 3.2%, according to figures from the International Monetary Fund (IMF)1. In 2025, the predicted rate is 3.3%, a healthy pace of growth after a difficult few years.
Not out of the woods
Despite positive headline growth forecasts, the IMF also highlighted some economic concerns, including large budget deficits and geopolitical tensions, which will create ongoing challenges for the global economy.
With many major world economies now cutting rates, it’s sending a global message that the worst of the three-year inflationary shock is now behind us. Slower but still positive growth, lower inflation and interest rate reductions are a positive combination for investors.
Long-term thinking
Whatever uncertainties do lie ahead, the basics never change: a long-term approach to finances and investments is advisable. Please get in touch with any questions or concerns you may have.
1IMF, 2024
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.