Search results
EIU forecasts that the global economy will continue to skirt a recession, growing by 2.3% in 2024 - the same rate as estimated in 2023. Faster growth in Europe (led by Germany) will counteract softer US expansion in 2024, while moderate stimulus will stabilise China’s economy.
According to the latest survey, chief economists see significant regional variation in the inflation outlook for 2023. Although no regions are slated for very high inflation, expectations of high inflation range from 57% of respondents for Europe to just 5% of respondents for China.
- Overview. Global recovery remains slow, with growing regional divergences and little margin for policy error. The baseline forecast is for global growth to slow from 3.5 percent in 2022 to 3.0 percent in 2023 and 2.9 percent in 2024, well below the historical (2000–19) average of 3.8 percent.
- Projections Table. Download Data.
- Chapters in the Report. Chapter 1: Global Prospects and Policies. Divergent growth prospects across the world’s regions pose a challenge to returning to prepandemic output trends.
- Statistical Appendix. Statistical Appendix: Data assumptions, conventions, and classifications. Statistical Appendix Table A: Key Global Economic Indicators.
Sep 24, 2024 · Global growth is forecast to slow from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic.
- Introduction
- Regina Mayor
- Contents
- The global outlook: Treading cautiously amid risks
- Central banks face a trickier outlook
- Chart 2: Central banks have been tightening monetary policy
- Room for growth
- Chart 4: KPMG global growth projections
- Anatomy of a slowdown
- A challenge for the Fed
- Stefano Cimmarusti
- Dr. Ventzislav Kartchev
- Chart 35: Energy Price Guarantee extended at £2,500 for a further 3 months
- Chart 40: Policy rates in the CEE
- Partner and Chief Economist, KPMG in Nigeria
We may only be part-way through 2023, but the phrase that has overwhelmingly dominated conversations – from boardrooms to political chambers and Main Streets – has been the cost-of-living crisis. In recent years, the world has faced waves of challenges, from the pandemic to the invasion of Ukraine, to the unfolding bank liquidity challenges amidst ...
Global Head of Clients & Markets KPMG International
The global outlook: Treading cautiously amid risks
Sharp falls in inflation will likely leave behind some of the recent challenges for the global economy. Central banks approaching the end of the tightening cycle partly as a response to rising tensions in financial markets. Easing supply chain pressures and resilient labor markets to support recovery but uncertainty about the outlook is on the rise...
While the outlook for inflation has improved significantly, many central banks remained cautious at the start of the year. The concern was that the bout in inflation, as a result of the reopening of economies after Covid‐19 restrictions followed by a commodity shock due to the invasion of Ukraine, has been embedded in inflation expectations and the...
Source: Bank for International Settlements, KPMG analysis.
With monetary policy focused on moderating inflation while stabilizing financial markets, fiscal policy is left as the potential tool to boost economic growth. Unfortunately, the public finances have deteriorated significantly over the past three years. Governments have spent significant amounts on first shielding their economies from Covid‐19 and ...
Despite the resilience of the labor market and the improving inflation conditions, we expect global economic growth to be relatively modest over the next two years, and to stay below its long‐term average (see Chart 4). Global growth is expected to be driven by the recovery of the Chinese economy and a relatively strong growth in some of the emergi...
Consumer spending is expected to stall but not collapse. A healing of household balance sheets and a ramp up in saving is buoying demand. Tighter credit market conditions are eroding affordability and will take a toll on employment, especially among younger, smaller businesses that are more susceptible to the current tightening of credit market co...
The Federal Reserve is committed to derailing inflation, which requires a chilling of demand. Main Street picked up at the start of the year, with smaller firms absorbing high profile layoffs at larger firms. The challenge for the Fed is to balance the need to cool the economy with the need for financial stability. Credit markets are now tightening...
Senior Consultant, Economics & Strategy at KPMG in Canada
Head of Business Intelligence/Markets, KPMG in Germany
Ofgem price cap Forecast EPG Source: Ofgem, OBR, KPMG analysis.
Poland Czech Republic Hungary Romania Source: Bloomberg.
oyeyemi.kale@ng.kpmg.com The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue...
Median CPI inflation for the G20 countries fell to 3.9% in October 2023 after peaking at 7.7% in July 2022, and we expect further deceleration in coming months. Our forecasts see world inflation averaging 5.0% in 2024 and 3.9% in 2025, down from an estimated 6.5% in 2023 and 8.0% in 2022.
People also ask
What is the forecast for global growth in 2023?
What is the forecast for global growth in 2022?
What will global growth look like in 2024?
What is the economic outlook for 2023?
How will economic growth change in 2022 & 2024?
What is the forecast for global growth 5 years from now?
The median forecast of global growth sets at 2.1% in 2023, a downward revision from the projected 2022 at 2.9% (Figure 1). Asian countries like India and some southeast Asian countries are expected to support global growth. The macroeconomic outlook is uncertain and risks to the global economy remain skewed to the downside
