Economic Downturn In 2024. The world economic forum's september 2024 chief economists outlook found that a majority of chief economists (54%) expect the condition of the global economy to remain. Gdp growth slowed from 3% in the second quarter to 2.8% in the third quarter of 2024.

A severe credit crunch confined mostly to advanced. Elevated central bank rates to fight inflation and a withdrawal of fiscal support amid high debt weigh on economic activity.