Global growth will remain stable at 3.2% in 2024 and 3.3% in 2025 according to the International Monetary Fund’s July 2024 “World Economic Outlook” report, subtitled “The Global Economy in a Sticky Spot.”
The IMF updates its economic outlook twice yearly using a “bottom-up” approach, starting with individual countries and then aggregating into overall global projections.
Per the IMF, growth in the United States will fall from 2.6% in 2024 to 1.9% in 2025, reflecting a slower-than-expected start to the year. The euro region will pick up from 0.5% in 2023 to 0.9% in 2024 and rise to 1.5% in 2025.
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The IMF projects growth in advanced economies to remain unchanged at 1.7% in 2024 and rise slightly to 1.8% in 2025.
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Meanwhile, according to IMF estimates, growth in emerging markets and developing economies will decline marginally from 4.4% in 2023 to 4.3% in 2024 and 2025.
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Per the IMF, the global consumer inflation rate, including food and energy, will fall from 6.7% in 2023 to 5.9% in 2024 and 4.4% in 2025.
