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Macro Bites: M&A deal activity in 2024’s nuanced macroeconomic environment

CEOs will encounter a mixed macroeconomic environment when making M&A decisions in 2024. Cost fatigue, still-high interest rates and some signs of a slowing labor market could weigh on economic activity. However, expected Fed interest rate cuts and moderating inflation may set the stage for increased M&A in 2024. EY-Parthenon Chief Economist Gregory Daco, EY Americas Strategy and Transactions Vice Chair Mitch Berlin and EY Strategy and Transactions Partner Katie Johnson discuss macroeconomic trends and their expected impact on M&A deal activity in 2024, including which sectors are likely to see the most activity.

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Key takeaways

Coming off a stronger-than-expected 2023, the 2024 macroeconomic environment presents uncertainty, but also M&A opportunity.
CEOs are likely to pursue more M&A as interest rates start to ease, with expectations of less expensive refinancing later.
Tech, oil and gas, and life sciences are all likely to be strong M&A sectors
Explore the EY-Parthenon Deal Barometer for more on our 2024 M&A outlook

Host and featured guests

Katie Johnson
EY Americas Consumer Transactions Leader

Mitch Berlin
EY Americas Vice Chair, Strategy and Transactions

Gregory Daco
EY-Parthenon Chief Economist, Strategy and Transactions, Ernst & Young LLP

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Explore our Macro Bites video series for real-time economic insights from industry leaders at EY.

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