Goldman's 2024 Outlook: Brighter Economy Ahead

November 10, 2023

Goldman Sachs stands out with a positive 2024 economic forecast, showcasing lower recession odds and a stronger economy. Here's what they're saying:

  • The global economy outdid itself in 2023, beating expectations.

  • GDP growth is set to outpace last year's forecasts by 1 percentage point globally and 2 percentage points in the US.

  • Inflation is cooling off from a fiery 6% in 2022 to a milder 3%, thanks to post-COVID recovery scenarios.

Goldman Sachs' 2023 forecasts reveal stronger than expected global and US GDP growth, outpacing consensus predictions. Graphic Source: Goldman Sachs Global Economics Analyst

Tailwinds Ahead:There's a bunch of good news on the horizon, according to Goldman Sachs:

  • Real household income growth is strong.

  • Monetary policy is easing off the brakes.

  • Manufacturing is on the upswing.

  • Central banks are ready to step in if growth wanes.

Skepticism Addressed:Doubting Goldman Sachs? Here's a throwback: In November 2022, they called the US recession odds at less than 35% against a 65% consensus. And guess what? They were spot on.

Reply

or to participate.