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WORLD ECONOMY TO PERFORM BETTER THAN EXPECTED IN 2024, SAYS GOLDMAN SACHS Goldman Sachs predicts the global economy will top expectations in 2024, driven by strong income growth and confidence that the worst of rate hikes is already over. The investment bank forecasts the world economy to expand 2.6% next year on an annual average basis, above the 2.1% consensus forecast of economists polled by Bloomberg. The US is expected to outpace other developed markets again with estimated growth of 2.1%, Goldman said. Goldman also believes that the bulk of the drag from monetary and fiscal tightening policies is over. Source: CNBC MOODY’S WARNING ON THE MASSIVE U.S. DEBT BURDEN HAS TURNED INTO A NONEVENT Markets on Monday shrugged at a warning Friday from Moody’s Investor’s Service that it was lowering its ratings outlook on Treasurys. “There’s no piercing insight from Moody’s that they have proprietary information that nobody knows about the U.S. government. So, it’s really a nonevent,” said Glenmede strategist Michael Reynolds. Moody’s is the only one of the big-three agencies that still has a triple-A rating on US debt. Source: CNBC CONSUMER SPENDING FELL U.S. October retail sales, excluding autos and gas, fell % month on month, while core retail, which excludes restaurants, declined %, according to the new CNBC/NRF Retail Monitor. The data differs from the Census Bureau’s retail sales report as it’s the result of actual consumer purchases — analyzing over 9 billion anonymized credit and debit card transactions — while the Census relies on survey responses. Source: CNBC 🌐 FXOpen official website: Join us on our social networks: ✅ ✅ ✅ ✅ CFDs are complex instruments and come with a high risk of losing your money.
