The International Monetary Fund on Tuesday raised its 2024 economic growth forecasts for the U.S., Brazil and Britain but cut them for China, Japan and the...
WASHINGTON - The International Monetary Fund on Tuesday raised its 2024 economic growth forecasts for the U.S. , Brazil and Britain but cut them for China , Japan and the euro zone, adding that risks abound from armed conflicts, potential new trade wars and the hangover from tight monetary policy .
"It looks like the global battle against inflation has largely been won, even if price pressures persist in some countries," Gourinchas said in a blog post. Germany will see zero growth this year, a markdown of two-tenths of a percentage point, as its manufacturing sector continues to struggle, the IMF projected. The reduction helped to drag down the forecast for overall euro zone growth slightly to 0.8% for 2024 and 1.2% for 2025 despite a half-percentage-point upgrade that pushed Spain's projected growth to 2.9%.
Other risks outlined in the report included the potential for a spike in prices of oil and other commodities should conflicts in the Middle East and Ukraine widen.
China Growth Rate Growth Outlook Monetary Policy Economic Growth Pierre-Olivier Gourinchas Global GDP International Monetary Fund U.S.
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