The International Monetary Fund (IMF) has raised its global growth outlook for 2024, now indicating the world economy's growing likelihood of achieving a soft landing scenario. As inflation cools and GDP growth accelerates in the US, how positive are things shaping up for the rest of the world?
IMF Chief Economist Pierre-Olivier Gourinchas sits down with Yahoo Finance Senior Reporter Jennifer Schonberger to explain his new outlook for global economic growth in the coming years.
"On the demand side, what we saw is countries like the US, for instance, we saw very resilient consumption. and we saw, also, a little bit of support for aggregated demand coming from government spending and fiscal policy," Gourinchas states. "The other side of the story is on the supply side... what we've seen is very robust labor markets increased and labor force participation."
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