2024 Recession Indicators Definition. The nber's definition emphasizes that a recession involves a significant decline in economic activity that is spread across the economy and lasts more than a few months. The 2024 slowdown will probably not be recession, though that’s certainly a possibility.

The world economic forum’s latest chief economists outlook finds that just over half of chief economists anticipate the global economy to weaken this year. Global growth is projected to remain unchanged in 2024 and strengthen modestly in 2025, with inflation returning to target in most countries by the end of 2025.