This represents a 0.2 percentage point improvement from its previous forecast in October.IMF calculations say that about 84% of nations will face lower headline inflation this year compared to 2022.The International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and Russia's invasion of Ukraine would likely still weigh on activity.
In its latest economic update, the IMF said the global economy will grow 2.9% this year — which represents a 0.2 percentage point improvement from its previous forecast in October. However, that number would still mean a fall from an expansion of 3.4% in 2022."Growth will remain weak by historical standards, as the fight against inflation and Russia's war in Ukraine weigh on activity," Pierre-Olivier Gourinchas, director of the research department at the IMF, said in a blog post.
The outlook turned more positive on the global economy due to better-than-expected domestic factors in several countries, such as the United States. "Economic growth proved surprisingly resilient in the third quarter of last year, with strong labor markets, robust household consumption and business investment, and better-than-expected adaptation to the energy crisis in Europe," Gourinchas said, also noting that inflationary pressures have come down.
Global growth, not American growth. Australia and USA are in for a seriously bumpy ride. Rates tipped to go up 4 more times in Australia and stuff is already through the roof here and we have rental crises. Don't believe 'everyone eats bugs' IMF - they usless.
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Source: Reuters - 🏆 2. / 97 Read more »