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Jabil's Global Category Intelligence Archive
Q1 2024
Jabil's Global Category Intelligence Archive
Q1 2024
Executive Summary
Q1 2024
Welcome to Jabil’s Category Intelligence Report for the first quarter of 2024!
The global economic landscape in this new year is marked by forecasts of moderating inflationary pressures driven by restrictive monetary policies and subdued economic activity. Against this backdrop, geopolitical volatility adds a layer of risk.
- Inflation trends on a global scale are expected to undergo a notable shift. Under the baseline scenario, a decline in global inflation to 4.9% is anticipated in 2024, down from the 6.9% recorded in 2023.
- Stricter monetary policies, weaker economic growth, and lower commodity prices contribute to this moderation. However, despite these factors, core inflation remains elevated, necessitating the maintenance of higher interest rates. The global stage is further complicated by geopolitical tensions, with potential disruptions to trade flows that could exacerbate inflation.
- Major economies exhibit variations in their inflation trends. For example, in the United States, inflation is projected to decrease from 4.0% in 2023 to 2.6% in 2024, influenced by reduced energy and commodity prices. China grapples with weak economic growth, with inflation forecasted to increase modestly to 1.6% in 2024.
- Geopolitical risks loom large in 2024, with persistent and emerging conflicts threatening disruptions in global supply chains.
So, while global inflation is anticipated to moderate in 2024, persistent geopolitical tensions introduce uncertainties that could impact economic stability and supply chain dynamics. Attention must be paid to adaptive strategies, which are essential for businesses and policymakers navigating the complex and evolving global economic landscape.
We hope you find this report insightful and informative. If you have any questions or would like to discuss the publication further, please do not hesitate to reach out to Josh Wilson, our Market Intelligence Research Manager, or me directly.
Yours sincerely,
Heidi Banks
Global Indirect Procurement
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