The IMF’s latest World Economic Outlook, released today, paints a picture of stable yet lackluster global growth, with key differences emerging beneath the surface.
The forecast for global growth in 2024 remains unchanged at 3.2%, but the forecast for 2025 has been slightly lowered to 3.2% from the July estimate of 3.3%. While the US saw a notable upgrade in its outlook, the Eurozone and many emerging markets face downward revisions due to a variety of challenges.
In particular, IMF raised its forecast for US growth to 2.8% in 2024, up 0.2% from earlier projections, and further increased 2025 forecast to 2.2%.
On the other hand, the Eurozone has suffered a downgrade, with growth expectations lowered by -0.1% to just 0.8% in 2024, and by -0.3% to 1.2% in 2025.
China’s growth forecast for 2024 was lowered slightly by 0.2% to 4.8%, while 2025 remains unchanged at 4.5%.
