As we enter the last quarter of 2023, concerns about a substantial recession have diminished, thanks to the stronger-than-anticipated performance of the U.S. economy, which has played a crucial role in mitigating a global economic downturn.
However, there are concerns that the weakening Chinese economy could prove a larger drag in 2024, according to the OECD. Despite the moderating rate, inflation continues to weigh on overall consumer sentiment, while the effects of sustained higher interest rates are being felt in declining home sales. With oil prices creeping higher, the impact of inflation and interest rates is raising concerns that this year's generative AI-fueled stock rally will weaken.
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