President of the European Central Bank (ECB) Christine Lagarde attends a session on the closing day of the World Economic Forum (WEF) annual meeting in Davos, on January 19, 2024.
The pandemic saw spending fall and people's savings grow, while global trade was also disrupted.
The World Trade Organization (WTO) expects trade to increase by 3.3% in 2024, per a forecast released in October.
"Around the world, inflation is coming down, and we have seen it in November [in] both headline inflation and core inflation," she said.
Speaking on the same panel, WTO Director General Ngozi Okonjo-Iweala agreed that the economy is "maybe moving towards normalization" but she described it as "not normal, because trade growth is still trending below GDP growth."
Persons:
Christine Lagarde, Lagarde, Ngozi Okonjo
Organizations:
European Central Bank, Economic, Bloomberg, World Trade Organization, ECB
Locations:
Davos, Switzerland