What is the growth rate for 2024?

G20 GDP Growth Rate Revised Downward for 2024

The latest projections for the growth of the G20 economies in the second quarter of 2024 have been revised downwards, reflecting recent economic data. The revised estimates now stand at 0.6%, down from the previous estimate of 0.7%.

This adjustment highlights the continued challenges facing the global economy. Recent data has indicated a slowdown in economic activity in many of the major G20 countries, as well as in emerging market economies. This has been attributed to factors such as the ongoing COVID-19 pandemic, geopolitical tensions, and supply chain disruptions.

The revised growth projections suggest that the global economy may be facing a more protracted period of slow growth than previously anticipated. This could have implications for businesses, consumers, and policymakers alike. Businesses may need to adjust their investment and hiring plans, while consumers may face continued uncertainty about their financial prospects. Policymakers may need to consider additional measures to support economic activity and mitigate the risks of a sustained slowdown.

It is important to note that the revised growth projections are just that: projections. The actual growth rate may differ from the estimates, depending on the evolution of the global economy over the coming months. However, the downward revision does serve as a reminder of the challenges that the global economy continues to face.