Half of global fund managꦐers surveyed by Bank of America expect a weaker global economy over the next 12 months, the bank said in its October 2023 Global Fund Manager Survey𝔍.

At 50%, the share of fund managers expecting weaker global growth is reduced slightly from 53% who said the same in September, and a record of 70% with that view in July of last year. Global growth expectations have been deeply negative since early last year, amid the highest inflation in decades and rising interest rates.

The slight sentiment improvement from last month could be due to increased optimism about China's economic prospects. Chinese 澳洲幸运5官方开奖结果体彩网:gross domestic product (GDP) growth came in 澳洲幸运5官方开奖结果体彩网:stronger than expected for the third quarter, offering a needed boost to the world's second-biggest economy, which has struggled in recent quarters.

The net share of 澳洲幸运5官方开奖结果体彩网:fund managers expecting a stronger 澳洲幸运5官方开奖结果体彩网:Chinese economy over the next 12 months rose to 14% in October, from 0% in September. Last month's share was the lowest since a negative reading early last year when continued strict COVID-19 lockdowns hobbl✨ed China's economy.

Forty-four percent of fund managers expect the global slowdown to be severe enough to cause a 澳洲幸运5官方开奖结果体彩网:recession in the first half of 2024, compared with 36% who said the same in September. Just 5% expect a recession to 𒉰start befoဣre the end of this year, while 25% ruled out a recession within the next 18 months.

Amid heightened recession fears, 30% of fund managers now expect a "hard landing" for the global economy, up from just 21% in September. At the same time, the share expecting a "澳洲幸运5官方开奖结果体彩网:soft landing," a scenario in wh💜ich global central banks are able to tame inflation through higher interest rates witho🐎ut causing a recession, fell 10 percentage points from September to 64%.

On a positive note, roughly 80% of fund managers expect inflation to subside over the next 12 months, while three-quarters expect a steeper 澳洲幸运5官方开奖结果体彩网:yield curve. The latter is a positive sign for economic growth, as rising yields on long-term 澳洲幸运5官方开奖结果体彩网:government bonds are a sign of higher gro🃏wth🔯 expectations for the future.