IMF raises 2023 global growth forecast to 2.9% from 2.7% citing resilience in advanced economies and China reopening, but cuts 2024 GDP growth forecast to 3.1% from 3.2% due to steeper monetary policy tightening

Says:

• Raises China 2023 growth forecast to 5.2% from 4.4% and maintains 2024 forecast at 4.5%.
• China growth in 2022 slowed to 3.0% vs global growth of 3.4% which was the first time China's growth was below the global average for the first time in over 40 years.
• Raised US 2023 growth forecast to 1.4% from 1.0% but cut 2024 forecast by 0.2ppts.
• Raised Eurozone 2023 growth forecast to 0.7% from 0.5% but cut 2024 forecast by 0.2ppts.

via IMF