Lessons on the economy from 2023 and forecasts for 2024

Business | Business News The lesson I have learnt from 2023 is not to be too glum on the economy . And in that vein, while I’m not expecting 2024 to be a humdinger for the economy and everyone’s own experiences will be different, for most households 2024 should be a better year than 2023. Looking back at forecasts made a year ago is usually a humbling experience for most economists. But it is a process that needs to be endured so that lessons from past mistakes can inform future forecasts. In these pages a year ago I said “all I want for Christmas is lower inflation” . And Santa duly delivered as the easing in CPI inflation from 11…