Analytics & Data

Charts: Global Economic Outlook Q1 2024

Global growth is projected to stand at 3.1% in 2024 and 3.2% in 2025. That’s according to the International Monetary Fund’s January 2024 “World Economic Outlook” report, subtitled “Moderating Inflation and Steady Growth Open Path to Soft Landing.”

The IMF updates its economic outlook twice a year. The IMF’s forecasts use a “bottom-up” approach, starting with individual countries and then aggregating into overall global projections.

According to the IMF, growth in the United States is projected to fall from 2.5% in 2023 to 2.1% in 2024 and 1.7% in 2025. The euro region is expected to rebound from its low growth rate of 0.5% in 2023, which was influenced by exposure to the conflict in Ukraine, to 0.9% in 2024 and 1.7% in 2025.

The IMF projects growth in advanced economies will decline slightly from 1.6% in 2023 to 1.5% in 2024 before rising to 1.8% in 2025.

Meanwhile, in emerging markets and developing economies, growth is expected to remain at 4.1 percent in 2024 and to rise to 4.2 percent in 2025

According to the IMF, the global consumer inflation rate, including food and energy, will fall from an estimated 6.8% in 2023 to 5.8% in 2024 and 4.4% in 2025.

Adel Boukarroum
Adel Boukarroum
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