JP Morgan Predictions 2024: What to Expect for the Situations in 2024
According to JP Morgan predictions 2024, a lot of things will happen within the next 12 months. Amidst the global chaos that involves energy crisis, recessions, great wars in several areas, regional banking crisis, interest rates biggest increase, and also consumer and credit deterioration, especially in the US, there are still some positive outcomes to expect.
JP Morgan Predictions 2024: What
Things to Expect
Things are still difficult after the pandemics. Even 3 years after, the economy hasn’t been fully recovered. Around 80% of the household is still struggling with their economy, now that their savings have been gone because of the pandemics. The year 2024 will still be a struggling year for them, with only 1% of consumers will finally experience better economy – way better before the pandemics.
But not all things are gloomy and sad. Midsize businesses, for instance, may see brighter future in 2024, although not overly bright. There are always concerns for inflation and recessions. People have different opinions concerning their national economy. In fact, their opinions are divided in a quite evenly way, amongst being optimistic (31%), being pessimistic (34%), and being neutral (36%). After all, the market has been uncertain after the pandemics.
Inflation has been a lingering concern. About 40% of (midsize) business owners stated that they somewhat expect a recession, especially toward the end of the year or even within the coming year.
The Role of New Technology
Artificial Intelligence and Machine Learning have taken the world by the storm. In fact, they have become the mainstream focus points of industry. Around 46% of businesses have been using AI tools or they have been considering using them. Only 6% of the business population considered the technology as their main challenges, especially for their businesses.
We can’t really turn a blind eye to this technology trend, considering that it will always grow and expand. Businesses owners, who are serious about expanding their businesses, will make sure that they have incorporated the right tech for their own growth.
For businesses, the leaders are adamant on continuous growth. More than half of them wants to make the best use of the following 12 months to introduce new services or products. Around one third of them even plan on expanding their business to a new market, possibly in new geographic areas. Others are planning inorganic means, meaning that they are thinking about strategic investments or partnerships.
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