IMF raises global growth forecast but UK set to shrink

Kathleen Gallagher
clock • 2 min read

The International Monetary Fund has raised its forecasts for the global economy for 2023, stating that growth has been "surprisingly resilient".  However, it also said the UK is likely to be the only leading economy to head into recession in 2023. The IMF said it expects the global economy to grow 2.9% in 2022, a 0.2 percentage point increase from the last forecast, published in October. It expects growth to "rebound" in 2024 to 3.1%. "Economic growth proved surprisingly resilient in the third quarter of last year, with strong labor markets, robust household consumption and busi...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?