IMF January World Economic Outlook
The global economy enters 2022 in a weaker position than previously expected the IMF reports. Growth is expected to moderate from 5.9% in 2021 to 4.4% in 2022, half a percentage point lower than previously expected, before slowing further to 3.8% in 2023.
The weaker global growth forecast primarily reflects markdowns in the two largest economies. Fiscal policy changes and continued supply chain problems, coupled with higher and more broad based inflation than expected, have affected the US economy with a 1.2 percentage-point downward revision to forecast growth in 2022 to 4.0%. In China, pandemic-induced disruptions related to zero-tolerance COVID-19 policies and protracted financial stress among property developers have induced a 0.8 percentage-point downgrade for growth in the same year to 4.8%.