The International Monetary Fund’s Director General, Crystalina Georgiva, stated during a press conference that “the worst has not yet come.”
The three largest economies in the world—the United States, the European Union, and China—are expected to mostly stop growing next year, while the economies that account for more than a third of global output are predicted to contract.
The fund anticipates 2.7% growth overall in 2023, down from 3.2% this year.
With the exclusion of food and volatile energy prices, the US consumer price index climbed by 8.2% in September compared to the same month last year. This was the fastest rate in forty years, indicating that fundamental prices were strong.
The fundamental reading of the Federal Consumer Price Index is probably going to keep everything on track for next month’s 0.75 percent increase in the benchmark interest rate.
The dollar’s value rose this year as a result of the federal interest rate’s swift increases, which also helped to draw foreign investors to American markets and increase the value of the dollar. As a result of the dollar’s strength, other central banks are under pressure to raise interest rates to protect their currencies, which could slow down growth.
This year, the US economy showed signs of flexibility, and the US Department of Commerce said on Friday that retail sales in the US-speaking market increased by 8.2% from September 2017 to September 2018.
The US economy is predicted by the International Monetary Fund to grow by 1% in 2019 as opposed to 1.6% this year.
In a Wall Street poll, experts predicted that there will be a recession in the US over the next 12 months, up from 49% in the July survey.
The worst has not yet arrived, according to Crystalina Georgeva. The three largest economies in the world will mainly stop
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