"2024 Economic Forecast: Key Drivers and Surprises Shaping the Global Market"

Manulife strategists predict that the peak growth of the current economic cycle is behind us, with central banks continuing their fight against inflation and a shift towards supply-driven economies. They anticipate that economic growth will be more challenging in 2024, with the US potentially outperforming other major economies due to its strong labor market and consumer health. The battle against inflation is expected to be tough, with central banks possibly easing policies before inflation targets are met. A shift from globalization to onshoring and nearshoring is predicted, alongside increased economic decoupling and government spending. Investors are warned to be cautious about jumping too early into the next economic cycle, as challenges still lie ahead.