Negative economic shock from U.S. increases urgency of long-standing challenges
U.S. imports soared in anticipation of higher tariffs, group noted
U.S. trade war torpedos economic growth
Despite weaker economic outlook, labour markets holding up
Despite headline gains, some countries saw incomes under pressure in Q4
Softer energy prices drive trend, as food, core inflation stable
Higher borrowing costs, refinancing needs may hamper investment
Price pressures remain contained, as energy, core inflation readings stable
Merchandise trade down, services exports up, imports flat in Q4
Preliminary data signals a slowdown to end 2024