Economic Update September 2024
Global growth remains resilient however recent dataflow suggests slowing momentum. As disinflation progresses, labour markets and growth will guide monetary settings. However, the outlook remains asynchronous. Renewed recession concerns on soft US jobs and unexpectedly hawkish commentary by the Bank of Japan imparted historic volatility across global markets.
Economic growth across the major developed economies continued to be robust in the face of still tight monetary policy in the second quarter. However, higher frequency data since have been mixed or softer depending on the country. Consequently, while inflation is not completely defeated, central banks have now either started to cut rates or are poised to do so. Market reactions have depended on jurisdiction where the growth narrative is weakest.
Meet the authors
Alex Joiner
Alex Joiner is Chief Economist at IFM Investors. He is responsible for the firm’s economic, financial market and geopolitical risk analysis that is key in IFM’s investment process. In this capacity he engages with IFM’s domestic and global clients on macro-investment trends and themes.
Frans van den Bogaerde
Frans supports the Chief Economist with the firm’s economic, financial market, and policy analysis and forecasting. He holds a Bachelor of Commerce (Finance & Economics) with Honours in Finance (First Class) from the University of Melbourne.
Chris Skondreas
Chris supports the Chief Economist with the firm's economic, financial market, and policy analysis and forecasting. He holds a Bachelor of Commerce (Economics and Finance) from Monash University.
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