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Key takeaways from IMF’s latest World Economic Outlook update

In its January update of the World Economic Outlook (WEO) report, the IMF has marginally improved the forecast for global growth in 2023 — a relief, given the fears of a global recession in 2023. Here are three key takeaways from the latest update: In the October 2022 WEO, the IMF forecast that the global growth rate will decelerate from 3.4% in 2022 to 2.7% in 2023.  In the January update, however, the IMF effectively rules out a global recession: “Negative growth in global GDP or global GDP per capita—which often happens when there is a global recession—is not expected.”