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According to Goldman Sachs, the global economy in 2023 has outperformed its optimistic expectations. The report also adds that:

⚫ Labor market performance has been strong, with unemployment rates falling below pre-pandemic levels

⚫ Inflation has moderated across most economies, with sequential core inflation in a group of high-inflation economies falling from 6% to 3%

⚫ Central banks have made significant progress in bringing inflation back to their targets

⚫ GDP growth is on track to beat consensus forecasts from a year ago by 1pp globally and 2pp in the US