Menu Close

How the World Economy is Expected to Grow

This is a syndicated repost published with the permission of Statista | Infographics. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

The latest estimates from the International Monetary Fund (IMF) indicate that globally, economic growth is expected to slow to the end of 2024. Representing a slightly more optimistic view than that offered in April – plus 0.2 points for 2023 – the IMF expects global real GDP to grow by 3.0 percent in both 2023 and 2024 after an estimated increase of 3.5 percent in 2022.

Looking at the picture regionally, the highest growth rates are forecast for emerging and developing Asia, where output is expected to go up by 5.3 percent and 5.0 percent in 2023 and 2024, respectively. The United States, on the other hand, is projected to see declining growth over this period, going from 2.1 percent in 2022 to just 1.0 percent in 2024 – a pattern mirrored in advanced economies generally, where the rate is expected to go from 2.7 percent in 2022, down to 1.4 percent in 2024.

Contributing to this slowing growth is Germany, where a decline in GDP of 0.3 percent is forecast for 2023. According to the IMF, this contraction is due to “weakness in manufacturing output and economic contraction in the first quarter of 2023”.

This chart shows real GDP year-over-year growth estimates/projections, by region from 2022 to 2024.

IMF Real GDP growth estimates projections by region

Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share

Discover more from The Wall Street Examiner

Subscribe now to keep reading and get access to the full archive.

Continue reading