{"id":1456971,"date":"2024-02-12T21:40:00","date_gmt":"2024-02-13T02:40:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1456971"},"modified":"2024-02-12T21:40:00","modified_gmt":"2024-02-13T02:40:00","slug":"mapping-global-gdp-growth-forecasts-by-country-in-2024","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/mapping-global-gdp-growth-forecasts-by-country-in-2024\/1456971\/","title":{"rendered":"Mapping Global GDP Growth Forecasts By Country In 2024"},"content":{"rendered":"

Mapping Global GDP Growth Forecasts By Country In 2024<\/span><\/p>\n

\n

Resilient GDP growth and falling inflation are spurring a brighter outlook for 2024, although cautions remain across global economies.<\/p>\n

While investors are hopeful that U.S. rate cuts could happen as early as May, the Fed has signaled that it won\u2019t \u201cdeclare victory\u201d too soon. As countries around the world maneuver a complex landscape, they are faced with a scope of risks that include inflationary spikes, rising debt loads, and dwindling consumer savings.<\/p>\n

The grpah below, via Visual Capitalist’s Dorothy Neufeld,<\/a> shows global GDP growth projections in 2024, based on the International Monetary Fund (IMF<\/a>) October 2023 Outlook and January 2024 update.<\/p>\n

<\/a><\/p>\n

Global GDP Growth Outlook 2024<\/h2>\n

In 2024, real GDP growth is forecast to increase\u00a03.1%<\/strong>, a slight rise from October\u2019s outlook.<\/p>\n

While positive growth is projected across all regions, it varies widely due to many factors spanning from the effects of higher borrowing costs to low consumer sentiment. Here are forecasts across 191 countries worldwide:<\/p>\n

Country
\n\t\t\t2024 Real GDP % Change (Projected)
\n\t\t\t2023 Real GDP % Change (Estimate)
\n\t\t\ud83c\udde6\ud83c\uddf1 Albania
\n\t\t\t3.3%
\n\t\t\t3.6%
\n\t\t\ud83c\udde9\ud83c\uddff Algeria
\n\t\t\t3.1%
\n\t\t\t3.8%
\n\t\t\ud83c\udde6\ud83c\udde9 Andorra
\n\t\t\t1.5%
\n\t\t\t2.1%
\n\t\t\ud83c\udde6\ud83c\uddf4 Angola
\n\t\t\t3.3%
\n\t\t\t1.3%
\n\t\t\ud83c\udde6\ud83c\uddec Antigua and Barbuda
\n\t\t\t5.4%
\n\t\t\t5.6%
\n\t\t\ud83c\udde6\ud83c\uddf7 Argentina
\n\t\t\t2.8%
\n\t\t\t-2.5%
\n\t\t\ud83c\udde6\ud83c\uddf2 Armenia
\n\t\t\t5.0%
\n\t\t\t7.0%
\n\t\t\ud83c\udde6\ud83c\uddfc Aruba
\n\t\t\t1.2%
\n\t\t\t2.3%
\n\t\t\ud83c\udde6\ud83c\uddfa Australia
\n\t\t\t1.2%
\n\t\t\t1.8%
\n\t\t\ud83c\udde6\ud83c\uddf9 Austria
\n\t\t\t0.8%
\n\t\t\t0.1%
\n\t\t\ud83c\udde6\ud83c\uddff Azerbaijan
\n\t\t\t2.5%
\n\t\t\t2.5%
\n\t\t\ud83c\udde7\ud83c\uddf8 The Bahamas
\n\t\t\t1.8%
\n\t\t\t2.7%
\n\t\t\ud83c\udde7\ud83c\udded Bahrain
\n\t\t\t3.6%
\n\t\t\t6.0%
\n\t\t\ud83c\udde7\ud83c\udde9 Bangladesh
\n\t\t\t6.0%
\n\t\t\t4.5%
\n\t\t\ud83c\udde7\ud83c\udde7 Barbados
\n\t\t\t3.9%
\n\t\t\t1.6%
\n\t\t\ud83c\udde7\ud83c\uddfe Belarus
\n\t\t\t1.3%
\n\t\t\t1.0%
\n\t\t\ud83c\udde7\ud83c\uddea Belgium
\n\t\t\t0.9%
\n\t\t\t4.0%
\n\t\t\ud83c\udde7\ud83c\uddff Belize
\n\t\t\t3.0%
\n\t\t\t5.5%
\n\t\t\ud83c\udde7\ud83c\uddef Benin
\n\t\t\t6.3%
\n\t\t\t5.3%
\n\t\t\ud83c\udde7\ud83c\uddf9 Bhutan
\n\t\t\t3.0%
\n\t\t\t1.8%
\n\t\t\ud83c\udde7\ud83c\uddf4 Bolivia
\n\t\t\t1.8%
\n\t\t\t2.0%
\n\t\t\ud83c\udde7\ud83c\udde6 Bosnia and Herzegovina
\n\t\t\t3.0%
\n\t\t\t3.8%
\n\t\t\ud83c\udde7\ud83c\uddfc Botswana
\n\t\t\t4.1%
\n\t\t\t3.1%
\n\t\t\ud83c\udde7\ud83c\uddf7 Brazil*
\n\t\t\t1.7%
\n\t\t\t-0.8%
\n\t\t\ud83c\udde7\ud83c\uddf3 Brunei Darussalam
\n\t\t\t3.5%
\n\t\t\t1.7%
\n\t\t\ud83c\udde7\ud83c\uddec Bulgaria
\n\t\t\t3.2%
\n\t\t\t4.4%
\n\t\t\ud83c\udde7\ud83c\uddeb Burkina Faso
\n\t\t\t6.4%
\n\t\t\t3.3%
\n\t\t\ud83c\udde7\ud83c\uddee Burundi
\n\t\t\t6.0%
\n\t\t\t4.4%
\n\t\t\ud83c\udde8\ud83c\uddfb Cabo Verde
\n\t\t\t4.5%
\n\t\t\t5.6%
\n\t\t\ud83c\uddf0\ud83c\udded Cambodia
\n\t\t\t6.1%
\n\t\t\t4.0%
\n\t\t\ud83c\udde8\ud83c\uddf2 Cameroon
\n\t\t\t4.2%
\n\t\t\t1.3%
\n\t\t\ud83c\udde8\ud83c\udde6 Canada*
\n\t\t\t1.4%
\n\t\t\t1.0%
\n\t\t\ud83c\udde8\ud83c\uddeb Central African Republic
\n\t\t\t2.5%
\n\t\t\t4.0%
\n\t\t\ud83c\uddf9\ud83c\udde9 Chad
\n\t\t\t3.7%
\n\t\t\t-0.5%
\n\t\t\ud83c\udde8\ud83c\uddf1 Chile
\n\t\t\t1.6%
\n\t\t\t5.0%
\n\t\t\ud83c\udde8\ud83c\uddf3 China*
\n\t\t\t4.6%
\n\t\t\t1.4%
\n\t\t\ud83c\udde8\ud83c\uddf4 Colombia
\n\t\t\t2.0%
\n\t\t\t3.0%
\n\t\t\ud83c\uddf0\ud83c\uddf2 Comoros
\n\t\t\t3.5%
\n\t\t\t4.4%
\n\t\t\ud83c\udde8\ud83c\udde9 Democratic Republic of the Congo
\n\t\t\t4.7%
\n\t\t\t2.7%
\n\t\t\ud83c\udde8\ud83c\uddec Republic of Congo
\n\t\t\t4.4%
\n\t\t\t6.2%
\n\t\t\ud83c\udde8\ud83c\uddf7 Costa Rica
\n\t\t\t3.2%
\n\t\t\t2.2%
\n\t\t\ud83c\udde8\ud83c\uddee C\u00f4te d’Ivoire
\n\t\t\t6.6%
\n\t\t\t0.2%
\n\t\t\ud83c\udded\ud83c\uddf7 Croatia
\n\t\t\t2.6%
\n\t\t\t6.7%
\n\t\t\ud83c\udde8\ud83c\uddfe Cyprus
\n\t\t\t2.7%
\n\t\t\t1.7%
\n\t\t\ud83c\udde8\ud83c\uddff Czech Republic
\n\t\t\t2.3%
\n\t\t\t5.0%
\n\t\t\ud83c\udde9\ud83c\uddf0 Denmark
\n\t\t\t1.4%
\n\t\t\t4.6%
\n\t\t\ud83c\udde9\ud83c\uddef Djibouti
\n\t\t\t6.0%
\n\t\t\t3.0%
\n\t\t\ud83c\udde9\ud83c\uddf2 Dominica
\n\t\t\t4.6%
\n\t\t\t1.4%
\n\t\t\ud83c\udde9\ud83c\uddf4 Dominican Republic
\n\t\t\t5.2%
\n\t\t\t4.2%
\n\t\t\ud83c\uddea\ud83c\udde8 Ecuador
\n\t\t\t1.8%
\n\t\t\t2.2%
\n\t\t\ud83c\uddea\ud83c\uddec Egypt
\n\t\t\t3.6%
\n\t\t\t-6.2%
\n\t\t\ud83c\uddf8\ud83c\uddfb El Salvador
\n\t\t\t1.9%
\n\t\t\t-2.3%
\n\t\t\ud83c\uddec\ud83c\uddf6 Equatorial Guinea
\n\t\t\t-5.5%
\n\t\t\t3.1%
\n\t\t\ud83c\uddea\ud83c\uddea Estonia
\n\t\t\t2.4%
\n\t\t\t6.1%
\n\t\t\ud83c\uddf8\ud83c\uddff Eswatini
\n\t\t\t3.3%
\n\t\t\t7.5%
\n\t\t\ud83c\uddea\ud83c\uddf9 Ethiopia
\n\t\t\t6.2%
\n\t\t\t-0.1%
\n\t\t\ud83c\uddeb\ud83c\uddef Fiji
\n\t\t\t3.9%
\n\t\t\t1.0%
\n\t\t\ud83c\uddeb\ud83c\uddee Finland
\n\t\t\t1.0%
\n\t\t\t2.8%
\n\t\t\ud83c\uddeb\ud83c\uddf7 France*
\n\t\t\t1.0%
\n\t\t\t6.2%
\n\t\t\ud83c\uddec\ud83c\udde6 Gabon
\n\t\t\t2.6%
\n\t\t\t-0.5%
\n\t\t\ud83c\uddec\ud83c\uddf2 The Gambia
\n\t\t\t6.2%
\n\t\t\t1.2%
\n\t\t\ud83c\uddec\ud83c\uddea Georgia
\n\t\t\t4.8%
\n\t\t\t2.5%
\n\t\t\ud83c\udde9\ud83c\uddea Germany*
\n\t\t\t0.5%
\n\t\t\t3.9%
\n\t\t\ud83c\uddec\ud83c\udded Ghana
\n\t\t\t2.7%
\n\t\t\t3.4%
\n\t\t\ud83c\uddec\ud83c\uddf7 Greece
\n\t\t\t2.0%
\n\t\t\t5.9%
\n\t\t\ud83c\uddec\ud83c\udde9 Grenada
\n\t\t\t3.8%
\n\t\t\t4.5%
\n\t\t\ud83c\uddec\ud83c\uddf9 Guatemala
\n\t\t\t3.5%
\n\t\t\t38.4%
\n\t\t\ud83c\uddec\ud83c\uddf3 Guinea
\n\t\t\t5.6%
\n\t\t\t-1.5%
\n\t\t\ud83c\uddec\ud83c\uddfc Guinea-Bissau
\n\t\t\t5.0%
\n\t\t\t2.9%
\n\t\t\ud83c\uddec\ud83c\uddfe Guyana
\n\t\t\t26.6%
\n\t\t\t4.4%
\n\t\t\ud83c\udded\ud83c\uddf9 Haiti
\n\t\t\t1.4%
\n\t\t\t-0.3%
\n\t\t\ud83c\udded\ud83c\uddf3 Honduras
\n\t\t\t3.2%
\n\t\t\t3.3%
\n\t\t\ud83c\udded\ud83c\uddf0 Hong Kong SAR
\n\t\t\t2.9%
\n\t\t\t6.3%
\n\t\t\ud83c\udded\ud83c\uddfa Hungary
\n\t\t\t3.1%
\n\t\t\t5.0%
\n\t\t\ud83c\uddee\ud83c\uddf8 Iceland
\n\t\t\t1.7%
\n\t\t\t-2.7%
\n\t\t\ud83c\uddee\ud83c\uddf3 India*
\n\t\t\t6.5%
\n\t\t\t2.0%
\n\t\t\ud83c\uddee\ud83c\udde9 Indonesia
\n\t\t\t5.0%
\n\t\t\t3.0%
\n\t\t\ud83c\uddee\ud83c\uddf7 Iran
\n\t\t\t2.5%
\n\t\t\t3.1%
\n\t\t\ud83c\uddee\ud83c\uddf6 Iraq
\n\t\t\t2.9%
\n\t\t\t0.7%
\n\t\t\ud83c\uddee\ud83c\uddea Ireland
\n\t\t\t3.3%
\n\t\t\t2.0%
\n\t\t\ud83c\uddee\ud83c\uddf1 Israel
\n\t\t\t3.0%
\n\t\t\t2.0%
\n\t\t\ud83c\uddee\ud83c\uddf9 Italy*
\n\t\t\t0.7%
\n\t\t\t2.6%
\n\t\t\ud83c\uddef\ud83c\uddf2 Jamaica
\n\t\t\t1.8%
\n\t\t\t4.6%
\n\t\t\ud83c\uddef\ud83c\uddf5 Japan*
\n\t\t\t0.9%
\n\t\t\t5.0%
\n\t\t\ud83c\uddef\ud83c\uddf4 Jordan
\n\t\t\t2.7%
\n\t\t\t2.6%
\n\t\t\ud83c\uddf0\ud83c\uddff Kazakhstan
\n\t\t\t4.2%
\n\t\t\t1.4%
\n\t\t\ud83c\uddf0\ud83c\uddea Kenya
\n\t\t\t5.3%
\n\t\t\t3.8%
\n\t\t\ud83c\uddf0\ud83c\uddee Kiribati
\n\t\t\t2.4%
\n\t\t\t-0.6%
\n\t\t\ud83c\uddf0\ud83c\uddf7 Korea
\n\t\t\t2.2%
\n\t\t\t3.4%
\n\t\t\ud83c\uddfd\ud83c\uddf0 Kosovo
\n\t\t\t4.0%
\n\t\t\t4.0%
\n\t\t\ud83c\uddf0\ud83c\uddfc Kuwait
\n\t\t\t3.6%
\n\t\t\t0.5%
\n\t\t\ud83c\uddf0\ud83c\uddec Kyrgyz Republic
\n\t\t\t4.3%
\n\t\t\t2.1%
\n\t\t\ud83c\uddf1\ud83c\udde6 Lao P.D.R.
\n\t\t\t4.0%
\n\t\t\t4.6%
\n\t\t\ud83c\uddf1\ud83c\uddfb Latvia
\n\t\t\t2.6%
\n\t\t\t12.5%
\n\t\t\ud83c\uddf1\ud83c\uddf8 Lesotho
\n\t\t\t2.3%
\n\t\t\t-0.2%
\n\t\t\ud83c\uddf1\ud83c\uddf7 Liberia
\n\t\t\t5.3%
\n\t\t\t-0.4%
\n\t\t\ud83c\uddf1\ud83c\uddfe Libya
\n\t\t\t7.5%
\n\t\t\t74.4%
\n\t\t\ud83c\uddf1\ud83c\uddf9 Lithuania
\n\t\t\t2.7%
\n\t\t\t4.0%
\n\t\t\ud83c\uddf1\ud83c\uddfa Luxembourg
\n\t\t\t1.5%
\n\t\t\t1.7%
\n\t\t\ud83c\uddf2\ud83c\uddf4 Macao SAR
\n\t\t\t27.2%
\n\t\t\t4.0%
\n\t\t\ud83c\uddf2\ud83c\uddec Madagascar
\n\t\t\t4.8%
\n\t\t\t8.1%
\n\t\t\ud83c\uddf2\ud83c\uddfc Malawi
\n\t\t\t3.3%
\n\t\t\t4.5%
\n\t\t\ud83c\uddf2\ud83c\uddfe Malaysia
\n\t\t\t4.3%
\n\t\t\t3.8%
\n\t\t\ud83c\uddf2\ud83c\uddfb Maldives
\n\t\t\t5.0%
\n\t\t\t3.0%
\n\t\t\ud83c\uddf2\ud83c\uddf1 Mali
\n\t\t\t4.8%
\n\t\t\t4.5%
\n\t\t\ud83c\uddf2\ud83c\uddf9 Malta
\n\t\t\t3.3%
\n\t\t\t5.1%
\n\t\t\ud83c\uddf2\ud83c\udded Marshall Islands
\n\t\t\t3.0%
\n\t\t\t3.2%
\n\t\t\ud83c\uddf2\ud83c\uddf7 Mauritania
\n\t\t\t5.3%
\n\t\t\t2.6%
\n\t\t\ud83c\uddf2\ud83c\uddfa Mauritius
\n\t\t\t3.8%
\n\t\t\t2.0%
\n\t\t\ud83c\uddf2\ud83c\uddfd Mexico*
\n\t\t\t2.7%
\n\t\t\t5.5%
\n\t\t\ud83c\uddeb\ud83c\uddf2 Micronesia
\n\t\t\t3.1%
\n\t\t\t4.5%
\n\t\t\ud83c\uddf2\ud83c\udde9 Moldova
\n\t\t\t4.3%
\n\t\t\t2.4%
\n\t\t\ud83c\uddf2\ud83c\uddf3 Mongolia
\n\t\t\t4.5%
\n\t\t\t7.0%
\n\t\t\ud83c\uddf2\ud83c\uddea Montenegro
\n\t\t\t3.7%
\n\t\t\t2.6%
\n\t\t\ud83c\uddf2\ud83c\udde6 Morocco
\n\t\t\t3.6%
\n\t\t\t2.8%
\n\t\t\ud83c\uddf2\ud83c\uddff Mozambique
\n\t\t\t5.0%
\n\t\t\t0.5%
\n\t\t\ud83c\uddf2\ud83c\uddf2 Myanmar
\n\t\t\t2.6%
\n\t\t\t0.8%
\n\t\t\ud83c\uddf3\ud83c\udde6 Namibia
\n\t\t\t2.7%
\n\t\t\t0.6%
\n\t\t\ud83c\uddf3\ud83c\uddf7 Nauru
\n\t\t\t1.3%
\n\t\t\t1.1%
\n\t\t\ud83c\uddf3\ud83c\uddf5 Nepal
\n\t\t\t5.0%
\n\t\t\t3.0%
\n\t\t\ud83c\uddf3\ud83c\uddf1 Netherlands
\n\t\t\t1.2%
\n\t\t\t4.1%
\n\t\t\ud83c\uddf3\ud83c\uddff New Zealand
\n\t\t\t1.0%
\n\t\t\t2.9%
\n\t\t\ud83c\uddf3\ud83c\uddee Nicaragua
\n\t\t\t3.3%
\n\t\t\t2.5%
\n\t\t\ud83c\uddf3\ud83c\uddea Niger
\n\t\t\t11.1%
\n\t\t\t2.3%
\n\t\t\ud83c\uddf3\ud83c\uddec Nigeria*
\n\t\t\t3.0%
\n\t\t\t1.2%
\n\t\t\ud83c\uddf2\ud83c\uddf0 North Macedonia
\n\t\t\t3.2%
\n\t\t\t-0.5%
\n\t\t\ud83c\uddf3\ud83c\uddf4 Norway
\n\t\t\t1.5%
\n\t\t\t0.8%
\n\t\t\ud83c\uddf4\ud83c\uddf2 Oman
\n\t\t\t2.7%
\n\t\t\t6.0%
\n\t\t\ud83c\uddf5\ud83c\uddf0 Pakistan
\n\t\t\t2.5%
\n\t\t\t3.0%
\n\t\t\ud83c\uddf5\ud83c\uddfc Palau
\n\t\t\t12.4%
\n\t\t\t4.5%
\n\t\t\ud83c\uddf5\ud83c\udde6 Panama
\n\t\t\t4.0%
\n\t\t\t1.1%
\n\t\t\ud83c\uddf5\ud83c\uddec Papua New Guinea
\n\t\t\t5.0%
\n\t\t\t5.3%
\n\t\t\ud83c\uddf5\ud83c\uddfe Paraguay
\n\t\t\t3.8%
\n\t\t\t0.6%
\n\t\t\ud83c\uddf5\ud83c\uddea Peru
\n\t\t\t2.7%
\n\t\t\t2.3%
\n\t\t\ud83c\uddf5\ud83c\udded Philippines
\n\t\t\t5.9%
\n\t\t\t-0.7%
\n\t\t\ud83c\uddf5\ud83c\uddf1 Poland
\n\t\t\t2.3%
\n\t\t\t2.4%
\n\t\t\ud83c\uddf5\ud83c\uddf9 Portugal
\n\t\t\t1.5%
\n\t\t\t4.0%
\n\t\t\ud83c\uddf5\ud83c\uddf7 Puerto Rico
\n\t\t\t-0.2%
\n\t\t\t2.2%
\n\t\t\ud83c\uddf6\ud83c\udde6 Qatar
\n\t\t\t2.2%
\n\t\t\t2.2%
\n\t\t\ud83c\uddf7\ud83c\uddf4 Romania
\n\t\t\t3.8%
\n\t\t\t6.2%
\n\t\t\ud83c\uddf7\ud83c\uddfa Russia*
\n\t\t\t2.6%
\n\t\t\t0.5%
\n\t\t\ud83c\uddf7\ud83c\uddfc Rwanda
\n\t\t\t7.0%
\n\t\t\t8.0%
\n\t\t\ud83c\uddfc\ud83c\uddf8 Samoa
\n\t\t\t3.6%
\n\t\t\t2.2%
\n\t\t\ud83c\uddf8\ud83c\uddf2 San Marino
\n\t\t\t1.3%
\n\t\t\t0.8%
\n\t\t\ud83c\uddf8\ud83c\uddf9 S\u00e3o Tom\u00e9 and Pr\u00edncipe
\n\t\t\t2.4%
\n\t\t\t4.1%
\n\t\t\ud83c\uddf8\ud83c\udde6 Saudi Arabia*
\n\t\t\t2.7%
\n\t\t\t2.0%
\n\t\t\ud83c\uddf8\ud83c\uddf3 Senegal
\n\t\t\t8.8%
\n\t\t\t4.2%
\n\t\t\ud83c\uddf7\ud83c\uddf8 Serbia
\n\t\t\t3.0%
\n\t\t\t2.7%
\n\t\t\ud83c\uddf8\ud83c\udde8 Seychelles
\n\t\t\t3.9%
\n\t\t\t1.0%
\n\t\t\ud83c\uddf8\ud83c\uddf1 Sierra Leone
\n\t\t\t4.7%
\n\t\t\t1.3%
\n\t\t\ud83c\uddf8\ud83c\uddec Singapore
\n\t\t\t2.1%
\n\t\t\t2.0%
\n\t\t\ud83c\uddf8\ud83c\uddf0 Slovak Republic
\n\t\t\t2.5%
\n\t\t\t2.5%
\n\t\t\ud83c\uddf8\ud83c\uddee Slovenia
\n\t\t\t2.2%
\n\t\t\t2.8%
\n\t\t\ud83c\uddf8\ud83c\udde7 Solomon Islands
\n\t\t\t2.4%
\n\t\t\t0.9%
\n\t\t\ud83c\uddf8\ud83c\uddf4 Somalia
\n\t\t\t3.7%
\n\t\t\t3.5%
\n\t\t\ud83c\uddff\ud83c\udde6 South Africa*
\n\t\t\t1.0%
\n\t\t\t2.5%
\n\t\t\ud83c\uddf8\ud83c\uddf8 South Sudan
\n\t\t\t4.2%
\n\t\t\t4.9%
\n\t\t\ud83c\uddea\ud83c\uddf8 Spain*
\n\t\t\t1.5%
\n\t\t\t3.2%
\n\t\t\ud83c\uddf0\ud83c\uddf3 St. Kitts and Nevis
\n\t\t\t3.8%
\n\t\t\t6.2%
\n\t\t\ud83c\uddf1\ud83c\udde8 St. Lucia
\n\t\t\t2.3%
\n\t\t\t-18.3%
\n\t\t\ud83c\uddfb\ud83c\udde8 St. Vincent and the Grenadines
\n\t\t\t5.0%
\n\t\t\t2.1%
\n\t\t\ud83c\uddf8\ud83c\udde9 Sudan
\n\t\t\t0.3%
\n\t\t\t-0.7%
\n\t\t\ud83c\uddf8\ud83c\uddf7 Suriname
\n\t\t\t3.0%
\n\t\t\t0.9%
\n\t\t\ud83c\uddf8\ud83c\uddea Sweden
\n\t\t\t0.6%
\n\t\t\t4.0%
\n\t\t\ud83c\udde8\ud83c\udded Switzerland
\n\t\t\t1.8%
\n\t\t\t0.8%
\n\t\t\ud83c\uddf9\ud83c\uddfc Taiwan
\n\t\t\t3.0%
\n\t\t\t6.5%
\n\t\t\ud83c\uddf9\ud83c\uddef Tajikistan
\n\t\t\t5.0%
\n\t\t\t5.2%
\n\t\t\ud83c\uddf9\ud83c\uddff Tanzania
\n\t\t\t6.1%
\n\t\t\t2.7%
\n\t\t\ud83c\uddf9\ud83c\udded Thailand
\n\t\t\t3.2%
\n\t\t\t4.3%
\n\t\t\ud83c\uddf9\ud83c\uddf1 Timor-Leste
\n\t\t\t3.1%
\n\t\t\t5.6%
\n\t\t\ud83c\uddf9\ud83c\uddec Togo
\n\t\t\t5.3%
\n\t\t\t1.5%
\n\t\t\ud83c\uddf9\ud83c\uddf4 Tonga
\n\t\t\t2.5%
\n\t\t\t5.4%
\n\t\t\ud83c\uddf9\ud83c\uddf9 Trinidad and Tobago
\n\t\t\t2.2%
\n\t\t\t2.6%
\n\t\t\ud83c\uddf9\ud83c\uddf3 Tunisia
\n\t\t\t1.9%
\n\t\t\t2.5%
\n\t\t\ud83c\uddf9\ud83c\uddf7 T\u00fcrkiye
\n\t\t\t3.0%
\n\t\t\t1.3%
\n\t\t\ud83c\uddf9\ud83c\uddf2 Turkmenistan
\n\t\t\t2.1%
\n\t\t\t2.5%
\n\t\t\ud83c\uddf9\ud83c\uddfb Tuvalu
\n\t\t\t3.5%
\n\t\t\t3.9%
\n\t\t\ud83c\uddfa\ud83c\uddec Uganda
\n\t\t\t5.7%
\n\t\t\t4.6%
\n\t\t\ud83c\uddfa\ud83c\udde6 Ukraine
\n\t\t\t3.2%
\n\t\t\t2.0%
\n\t\t\ud83c\udde6\ud83c\uddea United Arab Emirates
\n\t\t\t4.0%
\n\t\t\t3.4%
\n\t\t\ud83c\uddec\ud83c\udde7 United Kingdom*
\n\t\t\t0.6%
\n\t\t\t0.5%
\n\t\t\ud83c\uddfa\ud83c\uddf8 U.S.*
\n\t\t\t2.1%
\n\t\t\t2.1%
\n\t\t\ud83c\uddfa\ud83c\uddfe Uruguay
\n\t\t\t3.3%
\n\t\t\t1.0%
\n\t\t\ud83c\uddfa\ud83c\uddff Uzbekistan
\n\t\t\t5.5%
\n\t\t\t5.5%
\n\t\t\ud83c\uddfb\ud83c\uddfa Vanuatu
\n\t\t\t2.6%
\n\t\t\t1.5%
\n\t\t\ud83c\uddfb\ud83c\uddea Venezuela
\n\t\t\t4.5%
\n\t\t\t4.0%
\n\t\t\ud83c\uddfb\ud83c\uddf3 Vietnam
\n\t\t\t5.8%
\n\t\t\t4.7%
\n\t\t\ud83c\uddf5\ud83c\uddf8 West Bank and Gaza
\n\t\t\t2.7%
\n\t\t\t3.0%
\n\t\t\ud83c\uddfe\ud83c\uddea Yemen
\n\t\t\t2.0%
\n\t\t\t-0.5%
\n\t\t\ud83c\uddff\ud83c\uddf2 Zambia
\n\t\t\t4.3%
\n\t\t\t3.6%
\n\t\t\ud83c\uddff\ud83c\uddfc Zimbabwe
\n\t\t\t3.6%
\n\t\t\t4.1%
\n\t\t\u00a0
\n\t\t\t\u00a0
\n\t\t\t\u00a0<\/p>\n

*Reflect updated figures from the January 2024 IMF Update<\/em><\/p>\n

In the\u00a0United States<\/strong>, GDP growth is projected to remain moderately strong, supported by rising real wages boosting consumption across the economy.<\/p>\n

Yet compared to last year, growth is set to slow amid a softening labor market. In 2024, Citigroup announced it was laying off 20,000 employees after a disappointing year. Meanwhile, tech firms such as Google, Amazon, and Salesforce are\u00a0reducing headcounts<\/a>. Along with this, package delivery giant UPS announced 12,000 job cuts.<\/p>\n

In\u00a0China<\/strong>, property market woes are dragging on economic growth. Declining real estate values have impacted incomes, assets, and the public mood. Due to these headwinds, consumption growth is forecast to drop over the year.<\/p>\n

Over in\u00a0Latin America<\/strong>, Chile and Brazil were among the first emerging countries to hike interest rates in 2021\u2014and they were some of the first to cut them last year. Thanks to improving domestic demand amid dissipating price spikes, the IMF upgraded the outlooks for Brazil and Mexico in 2024.<\/p>\n

The lowest growth across all regions is forecast to be seen in\u00a0Europe<\/strong>, at 0.9%. In late 2023, Signa, a multi-billion European property firm collapsed following the sharpest rise in interest rates in the European Union\u2019s 25-year history. Also dimming the outlook is low consumer sentiment and the impact of high energy prices.<\/p>\n

What are the Key Risks?<\/h2>\n

While no one holds a crystal ball, there are certain risks outlined by the IMF that could negatively impact global GDP growth:<\/p>\n

Sharply Rising Commodity Prices:<\/strong>\u00a0If geopolitical tensions escalate in the Israel-Hamas war, it could spillover into the broader region leading to spikes in energy prices. Over a third of global oil exports are based out of the region, in addition to 14% of global gas exports. Adding to this, 11% of international trade passes through the Red Sea, which has seen continued attacks between Iran-backed Houthi rebels and strikes from the U.S. and its allies.<\/p>\n

Stubborn Inflation:<\/strong>\u00a0A return of supply disruptions paired with an overheated labor market could add inflationary pressures, potentially leading to higher interest rates. In turn, stock markets could respond adversely and financial stability could deteriorate.<\/p>\n

China\u2019s Economy Slows:<\/strong>\u00a0A property market rout could hurt domestic growth and consumer confidence, leading to declining consumption across the country. Accounting for nearly 19% of global GDP (PPP) in 2023, a slowing Chinese economy could impact countries that rely on\u00a0trade with China<\/a>.<\/p>\n

While these risks remain present, the economy could witness positive surprises as well. Should inflation fall faster than expected, it would likely lead to monetary easing and a boost to global economic growth. Overall, the global economy defied expectations in 2023, and it may do the same in 2024.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 02\/12\/2024 – 16:40<\/span><\/p>\n

\u200bRead More<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

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