Latest Global Growth Forecasts Show Challenges Facing Economies
IMF Blog, October 19, 2022
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Bibliographic details
- Authors: The Editors
- Published: October 19, 2022
Key growth forecasts
- The IMF’s World Economic Outlook released last week forecasts that global economic growth will slow from 3.2 percent this year to 2.7 percent next year.
- The 2022 projection was unchanged from the last estimate, in July, but next year’s was cut by 0.2 percentage point.
- The 2023 projection is less than half of last year’s 6 percent expansion.
Scope and severity
- The global deceleration will be broad-based, with many economies poised to contract.
- Countries accounting for about a third of the global economy are estimated to have a two-quarter contraction in real gross domestic product this year or next.
Uncertainty and downside risks
- There is a one-in-four probability global growth will fall below 2 percent next year.
- There is a likelihood of 10 percent to 15 percent that global growth will drop below 1 percent next year.
Chart of the Week / Interaction
- The Chart of the Week aggregates all GDP forecasts from the latest assessment.
- Interactive features: click an economy to see projections; move the slider for historical data or future estimates.
Publication metadata
- Author: The Editors
- Date: October 19, 2022
- Platform: IMFBlog
Source: IMF blog post "Latest Global Growth Forecasts Show Challenges Facing Economies" (October 19, 2022).