APAC Capital Markets Midyear Outlook 2024

Average annual real GDP growth (May vintage forecast) RATE CUTS WILL DRIVE STRONGER GROWTH

ASIA PACIFIC

EURO AREA*

UNITED STATES*

-2.2%

2020

-1.2%

-5.5%

5.8%

2021

5.9%

5.3%

1.9%

2022

3.2%

3.5%

2.5%

2023

4.3%

0.7%

1.9%

2024

3.9%

0.9%

Normalisation of growth in APAC emerging markets; recovery in advanced economies.

1.1%

2025

3.9%

1.6%

12

Source: Moody’s Analytics; Cushman & Wakefield (* = Cushman & Wakefield in-house forecasts)