Macro - Weekly Briefings - Emerging Markets
We have nudged up our 2023 GDP growth forecast for emerging markets by 0.3ppts to 3.7% y/y, on par with the result in 2022. This improvement primarily reflects the upgraded projection for China following a strong Q1. Risks to our 2024 EM growth forecast of 3.9% are skewed to the downside, however, due to signs that growth is slowing in the US and EU, indicating EMs' external demand will weaken. Despite persistence in some EMs, inflation risks are easing.
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