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Axios
Axios
Business

IMF says recession "not in our baseline" as it raises global growth forecasts

Recession PierreOlivier Gourinchas Inflation

The International Monetary Fund raised its 2023 global growth outlook Monday, driven by easing inflation, China reopening its economy and resilient demand in the U.S. and Europe.

What to expect: The IMF expects global growth to slow from 3.4% in 2022 to 2.9% this year — up from the 2.7% it predicted in October when it said "for many people 2023 will feel like a recession."

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