Next week’s initial estimate for US GDP in the first quarter is on track for a sharp downshift in growth, based on the median nowcast calculated by CapitalSpectator.com via several sources.
Daily Archives: April 23, 2025
Macro Briefing: 23 April 2025
The IMF cut its global growth outlook for 2025, citing tariffs as a factor. US output is expected to downshift to a 1.8% increase this year, nine-tenths of a percentage point below the previous forecast in January. “Intensifying downside risks dominate the outlook, amid escalating trade tensions and financial market adjustments,” the IMF advised in its revised World Economic Outlook. “Divergent and swiftly changing policy positions or deteriorating sentiment could lead to even tighter global financial conditions. Ratcheting up a trade war and heightened trade policy uncertainty may further hinder both short-term and long-term growth prospects. Scaling back international cooperation could jeopardize progress toward a more resilient global economy.”
