Special effects for growth, inflation is acting up. We expectsluggish economic momentum ahead, with global GDP growingby less than +3% between 2024-25. While growth in the advancedeconomies will remain stable at +1.6% in 2024, it will slow downto +4% (-0.3pp) for emerging markets, mainly driven by Asiaexcluding Asean and Latin American countries. The divergencein growth performance between the US and Europe from 2023 isexpected to narrow starting in H2 2024. The US is expected to grow
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