World Economic Outlook, January 2023 Update: Inflation Peaking amid Low Growth
The January 2023 World Economic Outlook Update projects that global growth will fall to 2.9 percent in 2023 but rise to 3.1 percent in 2024.
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Volume/Issue:
Volume 2023
Issue 003
Publication date: January 2023
ISBN: 9798400232886
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Topics covered in this book
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Economics- Macroeconomics , International - Economics , inflation , growth , interest rates , war , China , Ukraine , economy
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Summary
The January 2023 World Economic Outlook Update projects that global growth will fall to 2.9 percent in 2023 but rise to 3.1 percent in 2024. The 2023 forecast is 0.2 percentage point higher than predicted in the October 2022 World Economic Outlook but below the historical average. Rising interest rates and the war in Ukraine continue to weigh on economic activity. China’s recent reopening has paved the way for a faster-than-expected recovery. Global inflation is expected to fall to 6.6 percent in 2023 and 4.3 percent in 2024, still above pre-pandemic levels.
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