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Future Forecast for 2024 – What can happen in the coming year?

Written by The Anand Market

Updated on:

THE Future forecasts for 2024 declare that with 70% with people thinking 2024 would be a better year than 2023, optimism for next year appears to be increasing overall. 50% We believe that by 2024 the global economy will have recovered from 2023 losses.

Future forecasts for 2024

Potential global confrontations are also included in Nostradamus’ prophecies. Experts have speculated about a new Cold War between China and the United States in light of China’s rise in the global economy.

Another fascinating prediction is that of a global warming disaster. It appears that Nostradamus predicted the extreme weather conditions we are currently experiencing, including severe storms, wildfires and very high temperatures.

According to Sky History, Nostradamus predicted that a new pope would be elected in 2024. Given that Pope Francis is around 80 years old and has health issues, a change in leadership within the Holy See could be imminent.

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The economy will avoid recession in 2024

Hopefully, the economy will avoid a recession unless something very catastrophic happens. Given the usual warning signs a year ago, we thought a recession was likely. However, it appears that the unexpected strength of the economy will last beyond 2024.

However, growth is expected to slow. Higher interest rates also hurt businesses and consumers. We should therefore expect GDP growth of 1.7% this year instead of 2.5% in 2023.

With the start of the drop in interest rates, activity should accelerate in the second half of the year, which would make the first half of the year rather calm.

Inflation will finally be largely under control in 2024

The overall inflation rate is expected to decline to 2% by the end of summer, with a subsequent rise to around 2.7% by the end of the year.

Core prices, or inflation excluding food and energy costs, are expected to fall from the current level of 4% to 2.4% by the end of the following year.

future forecasts for 2024

Easing Inflation Opens Door to Rate Cuts – Forecast for 2024

If the Federal Reserve is convinced that inflation is falling, expect an initial reduction in May. During the June and November sessions, further reductions could be made.

Even then, interest rates would remain much higher than they have been for most of the past 20 years.

Wall Street’s expectations of steady, rapid reductions appear to be pipe dreams. The economy must seriously weaken before the Fed acts quickly, which is not what bullish investors are predicting.

The global economy will not prosper in 2024

All major economies are expected to experience weaker growth than this year. Interest rates have recently increased, which is a barrier almost everywhere. In some regions, inflation is still very high.

Nevertheless, several advantages should prevent a global recession. Most supply chains have been repaired. Food and energy prices are falling. In 2024, the majority of central banks will lower interest rates.

In summary, most major economies and international trade are stumbling this year. Naturally, as we highlight in our special issue, many geopolitical hazards are imminent. Weak global growth could turn into a much worse situation in the event of another conflict or disaster.

Also Read:   The technology that needs to be fixed in 2024 and what was fixed last year

The real estate market will not see much rebound in 2024

House prices won’t fall after a tough 2023, but they will likely rise more slowly. A slight reduction in borrowing rates could help boost sales. The market will be more difficult for sellers.

Although there will likely be more availability on the market, selling a property won’t be as simple as putting up a for sale sign. However, demand is expected to remain high.

Homes will receive fewer offers overall than last year, and more offers will have to include stipulations such as a home inspection.

The odds favor a presidential rematch in 2024

A revenge for the president which, according to the polls, no one wants.

Despite Rep. Dean Phillips’ (D-MN) insignificant challenge in the primary, Joe Biden is expected to be the Democratic nominee again next year.

Trump is leading the polls with Biden. However, if Trump’s legal problems worsen and the economy can withstand inflation without collapsing, the situation could change as the election approaches. The House Republican investigation into Biden’s impeachment could hurt him.

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