The IMF says the economy is set for modest growth over the next two years amid cooling activity in the United States, a bottoming-out in Europe and stronger consumption and exports for China. Meanwhile, global growth is expected to remain stable at 3.2% this year, ticking up slightly to 3.3% in 2025. 

Joining the discussion:

• John Gong is a Professor at the University of International Business and Economics. 
• Anthony Chan is a former Chief Economist with JP Morgan Chase.
• Yan Liang is a Chair Professor in economics at Willamette University. 
• Otaviano Canuto is a former World Bank Vice President and Executive Director, and currently a Senior Fellow at the Policy Center for the New South. 

BREAKING: U.S. economic growth revised up to 3%. @ChristineRomans breaks down the numbers. pic.twitter.com/Yd2KpxCaqP

— MSNBC (@MSNBC) August 29, 2024

We project the global economy to grow at 3.2% in 2024 and 3.3% in 2025. Services inflation is holding up progress on disinflation, complicating monetary policy normalization.

Read more in our latest World Economic Outlook (WEO) Update. https://t.co/wRpDeHjxUi pic.twitter.com/TK8RId5ZDl

— IMF (@IMFNews) August 10, 2024

The US dollar’s share of foreign reserves remains dominant, though it has continued to slowly erode. This has been accompanied by a rise for others such as the Australian dollar, Canadian dollar, Chinese renminbi, and Korean won. https://t.co/c5juEUgHJP pic.twitter.com/6heRDaqjdZ

— IMF (@IMFNews) August 27, 2024