|
Conducted each year ahead of the World Economic Forum's (WEF)
annual meeting in the Swiss resort of Davos, the survey of
60-plus chief economists drawn globally from the private and
public sectors attempts to sketch priorities for policymakers
and business leaders.
Some 56% of those surveyed expect overall global economic
conditions to weaken this year, with a high degree of regional
divergence. While majorities saw moderate or stronger growth in
China and the United States, there was broad consensus that
Europe would muster only weak or very weak growth.
The outlook for South Asia and East Asia and Pacific was more
positive, with very high majorities expecting at least moderate
growth in 2024.
Reflecting commentary from the world's top central banks
suggesting that interest rates have peaked, a full 70% of those
surveyed nonetheless expected financial conditions to loosen as
inflation ebbs and current tightness in labor markets eases.
Artificial intelligence was seen making an unequal mark on the
world economy: while 94% expected AI to significantly boost
productivity in high-income economies over the next five years,
just 53% predicted the same for low-income economies.
Separately, the WEF released a study on the "quality" of
economic growth across 107 economies that concluded that most
countries are growing in ways that are neither environmentally
sustainable nor socially inclusive.
"Reigniting global growth will be essential to addressing key
challenges, yet growth alone is not enough," said Saadia Zahidi,
Managing Director, World Economic Forum.
The WEF said it was launching a campaign to define a new
approach to growth and help policy-makers balance it with
social, environmental and other priorities.
(Writing and reporting by Mark John; Editing by Alexander Smith)
[© 2024 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
