Citigroup forecasts global growth at 2.2% this year

FILE PHOTO: A shopping cart is seen in a supermarket in Manhattan, New York City, U.S., June 10, 2022. REUTERS/Andrew Kelly/File Photo

22 Feb 2023 02:46PM (Updated: 22 Feb 2023 02:46PM)

Citigroup economists on Wednesday raised their global growth forecast slightly but said they still expected the world’s economy to grow at the slowest pace in 40 years.

Economists at the Wall Street brokerage led by Nathan Sheets said that they now see global growth slowing this year to 2.2 per cent, 25 basis points higher than their previous estimate due to improving macroeconomic trends.

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