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On Monday, the International Monetary Fund (IMF) released its latest forecasts for the global economy. Those projections detailed in an update to the World Economic Outlook report of IMF that mainly read by both private and public sectors globally. Here we will discuss the charts that show the IMF’s latest assessment of the world economy.
Global Economic Recovery
The IMF estimated the worldwide economy to rebound to 3.3% this 2020 from forecasted 2.9% in 2019. Though, that estimation for this year is a descending revision from 3.4% stated in its World Economic Outlook of October 2019.
Global Economic Growth
2019 figure is an estimate by IMF, while 2020 and 2021 numbers are projections of the International Monetary Fund.
Source: International Monetary Fund’s World Economic Outlook (January 2020)
Furthermore, the fund attributed the share of the lion of the descending revision to a more subdued growth estimate for India.
Growth Markdown of India
India, the third-largest economy of Asia, expected to grow by around 5.8% in 2020 – a 1.2 percentage point reduction from the October forecast of the fund.
Outlook for Economy of India
2019 figure is an estimate by the IMF, while 2020 and 2021 number in India’s economy graph are projections of IMF.
Source: International Monetary Fund’s World Economic Outlook (January 2020)
The IMF stated that the local demand of India sowed rapidly than forecasted due to the strains in the financial sector and decay in credit growth. Still, the 5.8% prediction for 2020 is an improvement from the forecast 4.8% growth for last year, because of both fiscal and monetary measures as well as suppress oil prices – IMF.
Upgrade of China
According to the International Monetary Fund, the growth forecast of China for 2020 revised higher by percentage points of 0.2 to 6.0%. The fund added, that partially because the phase one trade deal of China with the United States probably to lessen some risks facing the second-largest economy of the world.
Growth Forecasts for China
2019 figure is an estimate by the IMF, while 2020 and 2021 number in the China growth forecasts’ graph are projections of IMF.
Source: International Monetary Fund’s World Economic Outlook (January 2020)
In its report, the fund wrote that unsettled disputes on wider economic relations of the United States and China as well as required national financial regulatory strengthening forecasted to continue weighing on activity.
The world’s largest economy of the United States expected to grow by around 2% this year – a descending revision of 0.1 percentage points of 0.1 compared to the October forecast of IMF.
United States economic outlook
2019 figure is an estimate by the IMF, while 2020 and 2021 number in the US economic outlook graph are projections of the International Monetary Fund.
Source: International Monetary Fund’s World Economic Outlook (January 2020)
A strategist at NatWest Markets, Max Lin said that the relegate reflects a gradually slowing manufacturing sector in the United States and potential risks from the upcoming 2020 presidential elections.
Euro Area Pick up
According to the International Monetary Fund, growth in the euro area for this year revised down by percentage points of 0.1 to 1.3%.
Growth Forecasts for the euro area
2019 figure is an estimate by the IMF, while 2020 and 2021 number in the growth forecasts for euro area graph are projections of the International Monetary Fund.
Source: International Monetary Fund’s World Economic Outlook (January 2020)
However, that estimation reflects a pick up from 2019’s 1.2% prediction, which the organization attributed to a predictable improvement in external demand. Following are the growth forecasts of the IMF for leading European economies this year:
