{"id":115632,"date":"2023-07-26T07:40:51","date_gmt":"2023-07-26T04:40:51","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/imf-nudges-up-2023-economic-outlook-but-warns-of-slowing-global-growth-ahead\/"},"modified":"2023-07-26T07:40:51","modified_gmt":"2023-07-26T04:40:51","slug":"imf-nudges-up-2023-economic-outlook-but-warns-of-slowing-global-growth-ahead","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/imf-nudges-up-2023-economic-outlook-but-warns-of-slowing-global-growth-ahead\/","title":{"rendered":"IMF nudges up 2023 economic outlook but warns of slowing global growth ahead"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/115632\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nThe International Monetary Fund has slightly upgraded its outlook for global growth this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said Tuesday. But despite the mildly better economic outlook, global growth is expected to slow to three percent this year and then stay there, held down by weak growth among the world\u2019s advanced economies, the IMF announced in a new report. \u201cWe\u2019re not out of the woods yet and growth remains on the low side,\u201d IMF Chief Economist Pierre-Olivier Gourinchas told AFP in an interview ahead of the report\u2019s publication.<\/p>\n<p>The global growth forecast for this year was raised by 0.2 percentage points from the IMF\u2019s last forecast in April, putting the world economy on track for three percent growth in both 2023 and 2024. This is down from global economic growth of 6.3 percent in 2021, and 3.5 percent last year, the IMF announced in its update to the World Economic Outlook (WEO). The IMF published its lowest medium-term forecast since the 1990s, citing slowing population growth and the end of the era of economic catch-up by several countries including China and South Korea.<\/p>\n<p>On Tuesday, the IMF said the global inflation picture has improved somewhat, with consumer prices now forecast to increase by 6.8 percent this year, down 0.2 percentage points from the previous forecast in April. This is \u201clargely on account of subdued inflation in China,\u201d the IMF said, adding that global inflation remains well above its pre-pandemic levels of around 3.5 percent.<\/p>\n<p>The IMF has lifted its outlook for US growth this year to 1.8 percent, up 0.2 percentage points from April, citing \u201cresilient consumption growth in the first quarter.\u201d The still-tight labor market in the world\u2019s largest economy \u201chas supported gains in real income and a rebound in vehicle purchases,\u201d the IMF said in its report. The Fund sees US growth slipping to 1.0 percent next year, as savings accumulated during the pandemic dry up and the economy loses momentum. \u201cWe are cautiously prudent that the US economy could avoid a recession and, you know, glide towards its inflation target without having a recession in its future,\u201d Gourinchas told AFP. \u201cBut it\u2019s a very, very narrow path,\u201d he added.<\/p>\n<p>As with the April forecast, much of the global growth this year is forecast to come from emerging market and developing economies (EMDEs) like India and China, with economic activity in advanced economies predicted to slow substantially this year and next. Advanced economies are now forecast to grow by 1.5 percent this year, up 0.2 percentage points from April, and by 1.4 percent in 2024.<\/p>\n<p>Citing positive recent economic news from the United Kingdom, the IMF has lifted the country\u2019s forecast for 2023 growth to 0.4 percent, leaving Germany as the only G7 economy expected to contract this year. The IMF\u2019s 2023 growth forecast for China remained unchanged at 5.2 percent, although it notes there has been a change in composition due to the underperformance of investment due to the country\u2019s troubled real estate sector.<\/p>\n<p>Alongside weakness in the real estate sector, the IMF said foreign demand remains weak and warned of rising and elevated youth unemployment, which reached almost 21 percent in May. The IMF lifted India\u2019s 2023 growth prospects to 6.1 percent, up 0.2 percentage points from April, citing \u201cmomentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment.\u201d<\/p>\n<p>The Fund now expects Russia\u2019s economy to grow by 1.5 percent this year, an upward revision of 0.8 percentage points from April, due to stronger-than-expected economic data fueled by \u201ca large fiscal stimulus.\u201d<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.digitaljournal.com\/world\/imf-nudges-up-2023-economic-outlook-but-warns-of-slowing-global-growth-ahead\/article\">DJ<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/imf-nudges-up-2023-economic-outlook-but-warns-of-slowing-global-growth-ahead\/\">IMF nudges up 2023 economic outlook but warns of slowing global growth ahead<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[10823,555,10824,757,1331,1778,2993,7200],"class_list":["post-115632","post","type-post","status-publish","format-standard","hentry","category-news","tag-ahead","tag-csr-news-en","tag-economic-2023","tag-global","tag-growth","tag-imf","tag-outlook","tag-slowing"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/115632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=115632"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/115632\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=115632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=115632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=115632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}