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The Monthly bulletin (June 2024)

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Juin Mensuel Anglais 2024ViewTélécharger
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  • Date de création 11/07/2024

The information available on the global economy in June 2024 suggests a continuation of growth in the short term, at a faster pace than previously expected. Inflation has slowed, and inflation prospects have improved significantly. Underlying inflation has also moderated, strengthening signals of easing price pressures, and inflation expectations have declined across all horizons. This downward trend in inflation should continue in the coming months. That said, the easing of energy costs, the mitigation of pandemic-related supply disruptions, and the normalization of monetary policy should lead to a slowdown in inflation. Overall, the risks to economic growth and inflation remain skewed to the downside. Growth could be weaker if the effects of monetary policy and the prolongation of the wars in Ukraine and the Middle East prove more pronounced than anticipated

Regarding the commodity market, we have noted a decline in the copper price. The manufacturing PMI has fallen, from 50.5 in May 2024 to 49.5 in June 2024. This decline reflects a slight contraction in industrial activity in the Chinese economy. Values below 50 points indicate a contraction in industrial and manufacturing activity in China. In contrast, cobalt prices have experienced a slight downward trend in June 2024. Additionally, crude oil market prices have shown an upward trend. As for gold prices, they have experienced a downward trend, due to the appreciation of the US dollar in the international foreign exchange market

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