Economists at the International Monetary Fund lifted their global growth forecast for 2021 to 6% from 5.5% on Tuesday.
The recession will likely leave smaller scars than the financial crisis, but developing nations are still lagging advanced economies, the IMF said.
Stimulus and essential workers helped the world avoid a recession that would've been "at least three times worse," the IMF's managing director said.
While Fitch's forecast calls for the fastest growth in decades, it's lower than estimates from Goldman Sachs, Morgan Stanley, and the Federal Reserve.
The International Monetary Fund lifted its 2020 global growth outlook to a 4.4% contraction from its previous forecast of a 4.9% tumble. Stronger-than-expected growth in the second quarter, particularly in advanced economies, drove the organisation to revise its outlook higher on Tuesday. Still, the IMF lowered its 2021 global GDP […]
Reversing lockdown measures while cases remain elevated is unlikely to drive a robust economic recovery, the International Monetary Fund said in a Thursday blog post. Researchers at the organisation found that voluntary quarantining plays a substantial role in stifling a rebound as fears of contracting the coronavirus keeps consumers from […]
Second- and third-quarter growth was better than expected, but the global economy is still a long way from full recovery, Kristalina Georgieva, managing director of the International Monetary Fund, said in a Tuesday speech. The IMF will make a “small upward revision” to its 2020 growth forecast next week after […]
Bank of America lowered its global 2020 growth expectation to 2.2% from 2.8% on Tuesday, just two weeks after its last downward revision. The updated projection lands well below the 3.5% GDP growth trend and places the world economy “in spitting range of a typical global recession,” the team of […]
Goldman Sachs lowered its US gross domestic product forecast for the first quarter to 1.2%, down from 1.4% previously, according to a client note on Monday. The forecast cut comes amid concern that the coronavirus will limit global growth and be a negative demand on US supply and demand. Still, […]
Stock markets around the world slumped on Monday as new coronavirus deaths in Iran, Italy, and South Korea marked a new high for outbreak-related fears. Economists have repeatedly downgraded their projections for global growth as the virus stifles demand, while public firms lowered forward-looking guidance due to supply chain disruptions […]
A prolonged use of strict coronavirus confinement policies in China could slow global growth by 0.4 percentage points in 2020, according to IHS Markit economists. The research firm’s base case hinges on the lifting of confinement measures in February, keeping the hit to annual global growth to a modest 0.1 […]
The coronavirus’ effect on the world economy is driving growth near negative levels in the first quarter of 2020,UBS economists wrote Tuesday. The bank’s estimate sees the hit to China’s economy accounting for most of its updated forecast, with disruptions in Thailand, Singapore, and Hong Kong also weighing on global […]
Large-fund managers’ growth expectations declined in February as coronavirus dragged down sentiment. Managers still rank the outcome of the 2020 presidential election as the biggest tail risk facing markets. Visit the Business Insider homepage for more stories. Large-fund managers surveyed by Bank of America slashed their expectations for global growth […]
Coronavirus has infected 64,000 and killed 1,380 so far. And as the health crisis worsens, it’s become increasingly clear that the outbreak will have wide-reaching economic consequences. China’s economy is forecast to grow by the smallest margin since the Great Recession – news that will hit its embattled and vulernable […]
The opening day of the World Economic Forum Annual Meeting in Davos, Switzerland featured the release of PwC’s latest CEO survey. It found that CEO pessimism about global growth is currently at a record high. The lack of confidence in the world economy is jarring, especially considering the strength of […]
Trade tensions could slow global economic growth to its weakest pace since the financial crisis a decade ago, the International Monetary Fund warned Tuesday. The international lender predicted global growth would register at 3% per cent for 2019, the lowest level since 2009. The report pointed to a series of […]
As strains on the second-largest economy pile up, the Chinese government is increasingly taking up stakes in private companies. The Wall Street Journal reported Tuesday that government-backed buyers in China purchased 47 stakes in listed private companies in the first half of the year The past two years marked a […]