Overview
: Counterpoint’s Macro Index increased slightly to 90.3 at the end of Q3 2024, from 89.33 in Q2 2024. The three-month outlook is expected to improve slightly to 93.29., while the 12-month outlook has been revised up slightly, mainly due to continued improvements in the global economy and bullish sentiment in tech. However, non-economic and non-tech related fields remain highly volatile, particularly with the political and geopolitical environment reaching a tipping point.
The uptick in Q3 can be attributed to improving economic prospects across most regions, as the global fight against inflation reaches the end-game. Central banks are firmly in a rate cut trajectory, offering relief to consumers and businesses alike. Tech sentiment also remained high due to continued AI frenzy and positive commentary during the Q2 earnings season, as well as a rebound in consumer sentiment due to lower inflation.
However, global conflict remains tense, while the political situation reaches a boiling point in both the US and Europe. Supply chain disruption could be on the horizon with key Middle East shipping routes and energy infrastructure in the crosshairs again.
