"World Bank Forecasts Soft Landing for Global Economy in 2024 Amid Energy Price Surge Warning"

The World Bank forecasts a global economic growth slowdown to 2.4% in 2024 due to weak global trade and elevated interest rates, but a recession is unlikely. The US economy's strength has reduced the risk of a global recession, but downside risks remain, including Middle East conflict and potential spikes in commodity prices. China's growth is expected to slow to 4.5% due to tepid consumer sentiment and a downturn in the property sector. Developing economies are projected to grow at 3.9%, below the previous decade's average. The outlook beyond 2024 is pessimistic, with most economies expected to grow more slowly than before COVID-19, leading to one of the weakest global growth performances since the 1990s.