Global economic growth in 2023 was stronger than many had forecast and projections for 2024 have been revised up. The IMF estimates global growth was 3.2% in 2023, outperforming its own projection of 2.9% as of April 2023 (measured on a Q4 over Q4 basis). The upward revision was in large part due to stronger than projected growth in the United States; in April 2023 the IMF projected U.S. growth in 2023 to be 1.0 percent while it came in at a robust 3.1 percent (Q4 over Q4 basis). Many emerging market and developing economies have fared better than expected thanks in part to improved terms of trade for some, proactive ... (full story)