🧵 1. IMF raises 2023 global growth forecast by 0.2% to 3%, expecting slight recovery despite China's slowing momentum. #finance
🧵 1. IMF raises 2023 global growth forecast by 0.2% to 3%, expecting slight recovery despite China's slowing momentum. #finance
🧵 2. Inflation projections: Headline inflation to decrease from 8.7% to 6.8% in 2023, while core inflation to decline to 6% from 6.5% last year.
🧵 3. IMF chief economist acknowledges progress in global economy but warns of challenges ahead. Too early to celebrate recovery.
🧵 4. Concerns raised about tighter credit conditions and depleted U.S. household savings. China's economic recovery shows signs of losing steam due to property sector concerns.
🧵 5. U.S. GDP projected to grow 1.8% in 2023 and 1% in 2024, while China's GDP expected to decrease to 4.5% in 2024. Weakness in Chinese real estate sector and youth unemployment pose challenges.
🧵 Read more at: https://www.cnbc.com/2023/07/25/imf-raises-global-growth-forecast-despite-chinas-recovery-losing-steam.html