By Tom Burnett CFA
On April 16, 2024, the International Monetary Fund (“IMF”) released its quarterly estimates for global GDP growth. The new figure is now 3.2% for 2025, an increase from 3.1% in its January release and from 2.9% in its release from last October. World Consumer Prices are now expected to increase by 5.9% this year compared to a 6.8% increase in 2023. Prices are expected to moderate further next year with an increase of 4.5%.
The U.S. GDP growth estimates are 2.7% this year and 1.9% in 2025. The GDP growth rate was 2.5% in 2023.
Europe and Japan are expected to grow more slowly this year at 0.8% and 0.9% respectively.
China is now expected to report GDP growth of 4.6% this year, down from 5.2% last year. Growth is now expected to fall to a rate of 4.1% in 2025.
World trade volume is now expected to grow at 3.0% this year, after a weak performance of just 0.3% in 2023.
The next Global GDP Growth Estimates Report will be issued in mid-July.
Tom Burnett CFA is Director of Research