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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.
Will rising inflation and interest rates halt growth in the G7 & Western European economies? Will higher growth rates impact Eastern Europe and Latin America even more strongly? Will pressure to reduce global emissions lead to slower growth in China and India?
- 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.
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.
The report forecasts global GDP growth of 2.2% in 2024 – down from 2.6% in 2023, with a return to 2.6% growth anticipated in 2025.
Feb 2, 2023 · The world economy is projected to see just 2.9% GDP growth in 2023, down from 3.2% projected for 2022. This is a 0.2% increase since the October 2022 Outlook thanks in part to China’s reopening, higher global demand, and slowing inflation projected across certain countries in the year ahead.
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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
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