Mixed Forecasts for Other Major Economies
Brazil’s growth forecast saw a significant upgrade, increasing by 0.9 percentage points to 3.0% for 2024, thanks to robust private consumption and investment. In contrast, Mexico’s outlook was downgraded to 1.5%, as tight monetary policies curb growth.
China’s 2024 growth projection was cut by 0.2 percentage points to 4.8%. While exports are boosting economic activity, China’s property sector remains weak, and consumer confidence is low. Japan also faced a reduction, with its growth forecast lowered to just 0.3% for 2024, reflecting lingering supply disruptions.
Germany’s outlook remained gloomy, with zero growth expected for 2023 due to ongoing struggles in its manufacturing…
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