But Nomura's chief economist is sceptical about a real recovery in China due to structural challenges and predicts weak global demand to weigh on India's growth in the second half of 2024. Here's why
The year 2023 offered respite in some ways: Inflation sobered from historically high levels, interest rates plateaued, the feared US recession never happened, and global growth held up. This turned out to be a positive surprise for central bankers, economists, and edgy investors.
The year ends on a hopeful note too. US and China, the production and consumption engines of the world, announced much-awaited policy cues. The US Federal Reserve ended its aggressive rate hike campaign and signalled rate cuts of 75 basis points in the coming year while China announced a record stimulus package of $112 billion to revive its economy. How will these measures play out next year?