Industry - Country Industry Forecasts - United States

Industry - Country Industry Forecasts - United States

US industrial production growth will ramp up in the second half of 2024 after a broadly weak 2023. We expect the US Federal Reserve not to raise interest rates further, and for gradual rate cuts to begin in 2024. Our baseline scenario suggests the first cut of 25bps to occur in March, followed by another in June, stimulating consumption and investment, though there will be a substantial lag between the cuts and positive effects on output.