Europe loses against the United States

by time news

2024-01-30 18:04:40

By Clara Galtier

Published yesterday at 7:04 p.m., Updated yesterday at 7:04 p.m.

As a major producer and exporter of hydrocarbons (here, an LNG tanker moored in Corpus Christi, Texas), the United States can rely on its energy independence to maintain growth dynamics. Mark Felix/Bloomberg

DECRYPTION – American dynamics should remain sustained in 2024, at a much faster pace than in the euro zone.

Global growth “surprisingly resilient”. This should grow by 3.1% in 2024, a forecast 0.2% higher than that of October, according to the International Monetary Fund (IMF) which published its new economic outlook on Tuesday. This renewed optimism, although slight, is largely due to the unexpected performance of the American economy, which, more robust than expected, defies forecasts.

Far from the recession announced by economists a year ago, the GDP of the world’s leading power grew by 2.5% in 2023. Above all, this year, it will gain 2.1% and not 1.5% as IMF economists announced it again in October. This upward revision of 0.6 points is notable, when most often, corrections from one quarter to the next vary around 0.1 to 0.3%.

Germany’s decline

The American economy benefited from the continued strength of the job market and strong domestic consumption. She was not suffocated, as many Cassandras expected…

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