Here are the expectations for global economic growth in 2023 and 24
The latest estimates from the International Monetary Fund (IMF) indicate that global economic growth is expected to slow down until the end of 2024.
AsMartin Armstrong of Statista reports, with a slightly more optimistic view than the one offered in April – up 0.2 points for 2023 – the IMF expects global real GDP to grow by 3.0% in both 2023 and 2024, after an estimated 3.5% increase in 2022.
Regionally, the highest growth rates are projected for emerging and developing Asia, where output is expected to increase by 5.3% and 5.0% in 2023 and 2024, respectively.
IMF global growth forecast
For the United States, however, growth is expected to decline more rapidly over this period, falling from 2.1% in 2022 to just 1.0% in 2024. For Europe, the forecast is negative for 2023, with a slight improvement in 2024. After all, the German slowdown is consistent with this negative view.
Germany, once a world locomotive, expects it to grow by just 0.3% in 2023, and is not even sure it will reach this minimum.
This pattern is mirrored in advanced economies in general, where the growth rate is expected to go from 2.7% in 2022 to 1.4% in 2024. Growth is now driven by the Far East and emerging countries.
According to the IMF, this contraction is due to “weakness in manufacturing output and economic contraction in the first quarter of 2023”. Fortunately, there is still some stimulus from the US, because otherwise the world situation would be even worse.
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The article Here are the expectations for global economic growth in 2023 and 24 comes from Scenari Economici .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/ecco-le-attese-per-la-crescita-economica-globale-nel-2023-e-24/ on Mon, 31 Jul 2023 09:00:42 +0000.