Global Economic Outlook Conference: Germany

Global Economic Outlook Conference: Frankfurt and Munich

Expect to learn about global economic improvements in 2025, with the US leading due to looser fiscal policies. While Europe remains cautious, recovery in real incomes and policy changes signal brighter outlook.

Risks are balanced, with geopolitical tensions and high interest rates posing downsides, while potential for aggressive monetary policy offers upside hope. Furthermore, momentum to return later this year, but Europe faces structural headwinds.

Agenda

A year of transition towards a stronger recovery. Presented by, Daniel Kral.

With the global economy still digesting the period of high inflation and higher interest rates, we expect this year we will see a gradual improvement in activity, which should gather momentum in 2025. The US economy will outperform Europe once again, due to looser fiscal policy and stronger consumption, as European consumers remain cautious about the outlook, although the outlook for 2025 looks brighter as a recovery in real incomes and the impact of looser policy feeds through the economy. The relative growth and inflation differentials should lead to a stronger interest rate cut cycle by the ECB, but with policymakers still scarred by the high inflation episode, there is a risk that the central bank retains a hawkish bias and cuts too little too late.

Momentum to return later this year, but Europe faces structural headwinds. Presented by, Jeremy Leonard.

As 2024 progresses, global industrial activity should pick up and begin to rebuild some momentum. Pass-through from lower wholesale energy prices, a move past the peak of impacts from past rate hikes and a trough in the de-stocking cycle should benefit manufacturing activity in the advanced economies. In China, growth is likely to be highly asymmetric in 2024, with real estate and other traditional growth drivers struggling while energy transition-adjacent industries, as well as high-tech manufacturing blossom. These patterns risk increasing import competition for Europe, which, on top of still-high energy costs, clouds the medium-term competitive outlook.

Risks more balanced around our improved global outlook. Presented by, Alessandro Theiss.

Risks to global growth now appear more balanced as the outlook for the global economy has improved. Downside risks are still dominated by the potential fall-out from geopolitical tensions and the possibility of higher for longer interest rates. But upside hopes now rest on more substantial monetary policy easing than expected.

Lunch will be served, giving you the opportunity to network with our experts and your peers.

Speakers

Alessandro Theiss

Associate Director

Daniel Kral
Daniel Kral

Lead Economist

Jeremy Leonard

Managing Director of Global Industry Services

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Conference Venues

Thurn-und-Taxis-Platz 2, 60313 Frankfurt am Main,Germany

Hotel Excelsior Schützenstraße 11 80335 München, Germany