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A global recession was widely predicted in 2023, but major economies held firm, raising interest rates to control inflation.

The United States' economy expanded by 5.2 percent in the third quarter, the quickest pace in nearly two years.

Food and fuel prices have come down. But inflation and high interest rates remain a major issue in many parts of the world.

Meanwhile, China is grappling with deflation as prices continue to fall. How will slowing growth and demand there affect the rest of the world?

We look at what lies ahead for the global economy in 2024.