Minneapolis CNN —The global economy is showing more resilience than economists previously thought — but, although some risks have abated, choppy waters could still be ahead, the International Monetary Fund said Tuesday.
In its latest update to its World Economic Outlook, the agency said it expects global growth of 3% in both 2023 and 2024.
“Global economic activity has proven resilient in the first quarter of this year, leading to a modest upward revision for global growth in 2023,” Pierre-Olivier Gourinchas, the IMF’s chief economist, said in a statement.
From 2000 to 2019, annual global economic growth averaged 3.8%, according to the IMF.
When looking across the global economy, there are concerns that China’s recovery could slow further, as its debt-laden real estate sector weighs on growth, according to the report.
Persons:
” Pierre, Olivier Gourinchas, Chris Ratcliffe, ” Gourinchas, Gourinchas, “, ”
Organizations:
Minneapolis CNN, International Monetary Fund, Economic, IMF, Bloomberg, Getty, Publishing, Federal Reserve
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Minneapolis, Oxford, United Kingdom, United States, Europe, Ukraine, Germany, Yantai, Shandong province, China