IMF Raises Growth Forecast for ‘Overheated’ U.S. Economy and Urges Caution on Rate Cuts (Macro News for April 13, 2024 – April 19, 2024)

The International Monetary Fund (IMF) increased its forecast of U.S. economic growth for 2024 to 2.7%. This new forecast is 0.6% higher than the previous forecast. The U.S. growth rate is far above its developed economy peers which include Germany, Japan, and Canada. The 20 nations that use the euro are expected to grow by a lackluster 0.8% for the year 2024.

Britain Falls Into Recession, With Worst GDP Performance in 2023 in Years (Macro News for February 17, 2024 – February 23, 2024)

Official U.K. numbers show that the nation is in a recession. Gross domestic product (GDP) fell by 0.3% in the final quarter of 2023 after falling by 0.1% in the third quarter of 2023. Recessions are typically defined as two consecutive quarters of negative growth. The decline was widespread and affected the manufacturing, construction, and wholesaling sectors. Tourism partially offset some of the decline in addition to a slight increase in vehicle and machinery rentals.

IMF Upgrades Global Growth Forecast, Citing U.S. Resilience and Policy Support in China (Macro News for February 3, 2024 – February 9, 2024)

The International Monetary Fund (IMF) adjusted its earlier 2024 global growth estimates upward to 3.1%. The previous estimate, made in October 2023, projected 2024 global growth would be 2.9%. The IMF also expects the 2025 global growth rate to be about 3.2%. The primary reasons listed for making the adjustments are "the unexpected strength of the U.S. economy and fiscal support measures in China."

U.S. GDP Grew at a 4.9% Annual Pace in the Third Quarter, Better Than Expected (Macro News for November 11, 2023 – November 17, 2023)

U.S. gross domestic product, or GDP, grew more rapidly than expected in the third quarter of 2023. The U.S. Commerce Department announced GDP increased by 4.9% on an annual basis. A survey of economists previously forecast that real GDP growth would be 4.7%. Real GDP measures the inflation-adjusted total value of all final goods and services produced in the U.S. during a given period.