{"id":2274,"date":"2024-01-11T14:53:04","date_gmt":"2024-01-11T14:53:04","guid":{"rendered":"https:\/\/hegarty.ie\/?p=2274"},"modified":"2024-01-11T14:57:13","modified_gmt":"2024-01-11T14:57:13","slug":"2274","status":"publish","type":"post","link":"https:\/\/hegarty.ie\/2024\/01\/11\/2274\/","title":{"rendered":"January Market Update 2024"},"content":{"rendered":"
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\u00a0<\/strong><\/p>\n In this month\u2019s issue we enclose Aviva’s Investment outlook for 2024<\/strong><\/p>\n \u00a0THE OUTLOOK FOR 2024<\/strong><\/p>\n A Year of Election<\/strong><\/p>\n 2024 is set to be dominated by political events, with 76 states around the world due to have elections. Political events tend to have significant economic consequences, so much of the focus on economics will be dominated by politics.<\/p>\n The election in Taiwan in January is first up. From a global geopolitical perspective, the relationship between China and the United States will be the defining one over the coming decades, just as the relationship between the US and the USSR was up to1990. Strategically, Taiwan is the most dangerous and immediate challenge to that relationship.<\/p>\n There are elections to the European Parliament in June. The most interesting thing to watch in those elections will be the performance of the far-right, who are intent on destabilising the EU model.<\/p>\n In Ireland, the European and the local elections in the same month will be watched closely for the economic manifestos of the various parties ahead of a general election that must be held by March 2025.<\/p>\n The most significant election promises to be the US presidential election in November. If Donald Trump manages to make it to the starting line, there is every chance he could become the next president. Such an outcome would have significant implications for the global economic order as barriers to trade in the shape of high tariffs and even more intense economic nationalism would likely become the order of the day.<\/p>\n The Economic Issues<\/strong><\/p>\n While global economics will be heavily influenced by potentially seismic political developments over the coming year, the immediate economic narrative will be dominated by the path of inflation; the growth momentum in the Euro Zone in particular; and how quickly central bankers start to loosen monetary policy.<\/p>\n The central scenario seems to be:<\/p>\n For Ireland, the momentum in the economy is reasonably solid as we move into 2024. Several pertinent issues stand out for 2024:<\/p>\n For indigenous business, 2024 will likely be a more challenging year due to government measures and other cost pressures. The Revenue debt warehousing scheme introduced during Covid is due to be unwound from April onwards. The 12 per cent increase in the minimum wage will add to cost pressures, but Government support announced in Budget 2024 will provide some support. Recruitment and retention of labour will remain a significant business challenge.<\/p>\n All in all, 2024 should see a reasonable level of activity in the economy, but some easing from the strong growth of the past three years looks inevitable. Economically and politically, Ireland remains in a better and more stable position than many other countries now. However, the external risks and challenges are very real.<\/p>\n Should you wish to discuss any of the above or need any further information or advice, please do not hesitate to contact a member of our advisory team at Jim@hegarty.ie, Niamh@hegarty.ie, Frank@hegarty.ie & Ross@hegarty.ie or alternatively you can call the office directly on 01 4972544.<\/p>\n Hegarty Financial Management 40 years caring for our clients financial wellbeing.<\/p>\n","protected":false},"excerpt":{"rendered":" \u00a0 In this month\u2019s issue we enclose Aviva’s Investment outlook for 2024 \u00a0THE OUTLOOK FOR 2024 A Year of Election 2024 is set to be dominated by political events, with 76 states around the world due to have elections. Political events tend to have significant economic consequences, so much of the focus on economics will […]<\/p>\n","protected":false},"author":2,"featured_media":2275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,16,12,15,13],"tags":[],"_links":{"self":[{"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/posts\/2274"}],"collection":[{"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/comments?post=2274"}],"version-history":[{"count":3,"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/posts\/2274\/revisions"}],"predecessor-version":[{"id":2278,"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/posts\/2274\/revisions\/2278"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/media\/2275"}],"wp:attachment":[{"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/media?parent=2274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/categories?post=2274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hegarty.ie\/wp-json\/wp\/v2\/tags?post=2274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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