The PULSE: October 24, 2024 Global Economic and Market Summary
Eurozone: The Eurozone economy continues to experience a slow recovery, with GDP growth expected at just 0.8% for 2024. Consumer spending is emerging as a critical driver as real income improves and inflation eases. However, inflation remains elevated, projected at 2.2% in 2024, with wage growth adding pressure. Interest rate cuts by the European Central Bank are anticipated to continue through 2025, but economic uncertainties persist. S&P Global
South Korea: The South Korean economy is projected to grow by 2.6% in 2024, supported by solid exports, particularly in the semiconductor sector. Inflation is expected to moderate to 2.6%, down from 2023. Domestic demand remains sluggish due to high interest rates and weak consumption, although facilities investment is set to recover. KDI, Ministry of Economy and Finance
Tesla and Boeing: Tesla recently posted better-than-expected earnings for Q3 2024, driven by strong sales in its electric vehicle segment. On the other hand, Boeing is dealing with challenges in its commercial jet business due to supply chain disruptions but remains optimistic about long-term demand in aerospace. S&PGlobal
Keurig Dr Pepper: Keurig Dr Pepper continues to benefit from steady demand for beverages, with analysts expecting moderate revenue growth in line with global consumer trends despite inflationary pressures affecting raw material costs. S&PGlobal
IMF: The International Monetary Fund (IMF) highlighted in its latest report that global economic growth is projected to reach 3.2% in 2024. While inflation is easing in some regions, rising worldwide debt and geopolitical tensions threaten financial stability. IMF
Inflation remains a global concern, influencing monetary policies across regions as central banks strive to balance price control with economic recovery.