Chapter 1: State of the Economy

1. Global Economic Overview

Growth & Inflation Trends

oThe global economy maintained moderate growth, with GDP expanding 3.3% in 2023 and expected to grow 3.2% in 2024 and 2025 (IMF projections).

oAdvanced economies saw stable growth due to lower inflation and strong employment. The U.S. performed well (2.8% growth in 2024), but Europe struggled, with the Eurozone’s growth at only 0.8%.

oEmerging markets showed mixed performance. China experienced weaker growth due to real estate troubles and low consumer spending, while Japan faced supply chain disruptions.

Sectoral Trends