The Americas, buoyed by surprisingly strong economic growth and employment figures, remained the most active market for M&A—accounting for more than half of global activity in 2023. Deal value fell 7 percent to $1.6 trillion, a decline that was softened by the activity of programmatic acquirers and a handful of megadeals. Taken together, the value of deals in the Americas for all of 2023 only slightly trails the pandemic-era 2020 total of $1.7 trillion.