2024 Recession Prediction. In 1974, us economist julius shiskin described a recession as “two consecutive quarters of declining growth”, and many countries still adhere to that. The may 2024 chief economists outlook explores key trends in the global economy, including the latest outlook for growth, inflation, monetary and fiscal policy, and the implications of recent geopolitical and domestic political developments.
In 1974, us economist julius shiskin described a recession as “two consecutive quarters of declining growth”, and many countries still adhere to that. World growth in 2024 is expected to keep up with the 3.1% growth rate reported last year, rising to 3.2% in 2025.