The ISM manufacturing index for February, published on March 1st, came out slightly below expectations, lower than January’s level and below the threshold of 50, raising fears of a contraction in activity. The FOMC subsequently toned down this cautious message on 20 March, revising upward its expectations for growth in gross domestic product (GDP) in 2024 from 1.4%, expected last December, to 2.1%, finally removing the specter of a recession in 2024. […]
Outlook March 2024: Global Economic Trends
