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Citi Cuts Forecast for Global Econ Growth This Year to 2.6%
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Citi said in a report that due to the war involving Iran and the closure of the Strait of Hormuz, the global economy remains in the midst of a severe supply shock. Nevertheless, real-time indicators of economic activity continue to show solid performance, including Purchasing Managers' Indices, economic "surprise" indices and the performance of global equity markets. This sustained momentum partly reflects accelerating spending on AI. More broadly, however, the global economy appears to be absorbing this oil shock in a relatively orderly manner. As a result, the bank has only moderately lowered its forecast for global growth. It now expects global economic growth of 2.6% this year, down from its February forecast of 2.9%. Overall, the bank said its forecast remains in a "wait-and-see" mode. So far, the evidence that has emerged points more to resilience than to a sharp slowdown. (ad/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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