Aggregate EM growth softened towards the end of last year and we think it will remain weak in 2024. But there will be divergence at the country level with growth slowing in those economies that outperformed in 2023 and growth picking up in last year’s underperformers. EM inflation has continued to fall sharply, but we think that strong wage pressures will limit how far headline rates can fall in parts of Emerging Europe and Latin America. Interest rates in those regions will generally remain higher than most currently anticipate.
CE Advance clients can use our EM Activity, Inflation and Capital Flows Dashboards to view interactive charts and download data.
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