Citi Global Wealth released its full-year Wealth Outlook for 2024, titled Slow then grow: Investing in the markets’ big reset. The report offers a detailed analysis of the global economy, markets and geopolitics for the year ahead.
Though the U.S. economy is likely to slow in early 2024, Citi Global Wealth believes that markets will focus on faster growth in the second half of 2024 and into 2025. This growth will be reflected in corporate earnings in 2024 (+4 percent) and 2025 (+8 percent) and will benefit the broader stock market.
Citi Global Wealth is also forecasting a low likelihood of a recession in 2024 and predicts that “rolling recessions” in certain industries and sectors will fade in 2024 as markets for goods and services normalize.
“Markets lead economies,” said David Bailin, CIO at Citi Global Wealth.
