World Bank Raises 2023 Global Growth Forecast To 2.1% From 1.7% In January On Greater-than-expected Resilience In Major Economies; World Bank Forecasts 2024 Global Growth At 2.4% Versus 2.7% In January, Cites Drag From Tighter Monetary Policy
Portfolio Pulse from Benzinga Newsdesk
The World Bank has raised its 2023 global growth forecast to 2.1% from 1.7% in January, citing greater-than-expected resilience in major economies. However, the 2024 global growth forecast has been lowered to 2.4% from 2.7% due to the drag from tighter monetary policy.
June 06, 2023 | 1:31 pm
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POSITIVE IMPACT
The World Bank's updated global growth forecasts may have a positive short-term impact on the SPY ETF, as the 2023 forecast has been raised.
The World Bank's increased 2023 global growth forecast indicates greater economic resilience in major economies, which may lead to a positive short-term impact on the SPY ETF. However, the lowered 2024 forecast due to tighter monetary policy may create some uncertainty in the longer term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50