-
Steady global GDP growth masks substantial differences in prospects for different countries
Global growth is projected to continue in 2024 and 2025, with real global GDP projected to increase 3.1 percent in 2024, matching its 2023 pace, and post a gain of 3.2 percent in 2025. The steadiness of global GDP growth masks substantial differences across countries. Most G7 economies are experiencing soft landings, but to different degrees. The United States has benefitted from favorable demand and supply drivers. The euro area has experienced less economic momentum, but growth should pick up once monetary policy begins to ease. Major emerging economies’ outlooks are shaped by divergent factors. China’s economy ... (full story)