Economists predicted a recession for the U.S. and slowed growth for the EU in early 2023 due to inflation and other factors. However, by 2024, forecasts shifted, with the EU expecting a modest recovery and falling inflation in the U.S. The World Bank reported global economic output declining in 2024, with concerns about inflation and geopolitical tensions affecting predictions. Despite challenges, the seafood industry showed resilience. In the U.S., inflation drove consumers towards value-focused channels in 2023, while the EU saw increased household expenditures on seafood products, albeit with declining consumption. Forecasts for the seafood industry in 2024 remain positive, with expectations of growth in major aquaculture species, although market prices and economic uncertainties persist as concerns. Looking ahead, the World Bank predicts stronger growth for Europe in 2025, supported by domestic demand and recovery.