The global deceleration will be broad-based, with many economies poised to contract, and the outlook remains uncertain
The IMF’s World Economic Outlook released
last week forecasts that global economic growth will slow from 3.2
percent this year to 2.7 percent next year. The 2022 projection was
unchanged from the last estimate, in July, but next year’s was cut by
0.2 percentage point.
The global deceleration will be broad-based, and the 2023 projection
is less than half of last year’s 6 percent expansion. Countries
accounting for about a third of the global economy are estimated to have
a two-quarter contraction in real gross domestic product this year or
next.
The outlook is also fraught with uncertainty. We estimate there is a one-in-four probability global growth will fall below 2 per
IMF
© International Monetary Fund
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