Economic growth should persist in 2024, albeit at a weaker pace, according to top strategists at UBS Global Wealth Management (GWM).
"We do see the savings rate — the recent savings rate — as unsustainably low, and we expect it to rise over time," said Brian Rose, a senior economist and investment strategist at UBS GWM, during the webinar.
"And really, the base of the economy depends very heavily on what happens to the savings rate."
Rose continued: "If the savings rate just gradually drifts higher over time, then we can have a soft landing.
33 top stocks across sectorsWhile UBS is constructive about 2024, its strategists think investors should prepare for anything.
Persons:
Solita Marcelli, Brian Rose, Rose, there's, Marcelli, Daniel Scansaroli, Nicolas Le Roux, Le Roux, financials
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UBS Global Wealth Management, UBS, Business, US, UBS GWM, Federal Reserve, UBS GWM's, Companies
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Americas, Ukraine, Israel, Europe, China, Japan, Australia