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What is the present economic outlook?

Description: Global growth is projected to stay at 3.1 percent in 2024 and rise to 3.2 percent in 2025. Elevated central bank rates to fight inflation and a withdrawal of fiscal support amid high debt weigh on economic activity. World Economic Outlook - International Monetary Fund International Monetary Fund Publications WEO International Monetary Fund Publications WEO

What is the US current economic situation?

US gross domestic product (GDP) increased 1.9% in 2022 and another 2.5% in 2023. Year-over-year inflation the rate at which consumer prices increase was 3.1% in January 2023. The Federal Reserve raised interest rates seven times in 2022 and four times in 2023. 2024 Current State of the Union: US Economy - USAFacts usafacts.org state-of-the-union economy usafacts.org state-of-the-union economy

What will the economy be like in the next 5 years?

While we no longer forecast a recession in 2024, we do expect consumer spending growth to cool and for overall GDP growth to slow to under 1% over Q2 and Q3 2024. Thereafter, inflation and interest rates should normalize and quarterly annualized GDP growth should converge toward its potential of near 2 percent in 2025.

What is the economic forecast for Canada in 2024?

Consistent with these fears, we expect growth to slow down docHubly between now and the second half of the year and remain below potential for a few quarters. This would translate into real GDP growth of 2.1% in 2024 and 0.8% in 2025. The latter growth figure remains well below consensus expectations.

What is the economic forecast for 2025?

Global growth is projected at 3.1 percent in 2024 and 3.2 percent in 2025, with the 2024 forecast 0.2 percentage point higher than that in the October 2023 World Economic Outlook (WEO) on account of greater-than-expected resilience in the United States and several large emerging market and developing economies, as well

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