NEW YORK: Citigroup raised its 2023 global economic growth forecast to 2.4%, citing “solid” performance in the US, euro area and China, and also pushed out its expectation for a US recession to the fourth quarter of the year.
“Our outlook envisions that the acute financial stresses, which last month triggered pressures on both sides of the Atlantic, will continue to recede,” Citi economists led by Nathan Sheets said in a note. Citi however, cuts its global economic growth forecast for next year to 2.1%, from the 2.5% expected previously.
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