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.