Citigroup expects 'less hard' landing for global economy in 2023

Citigroup now sees global growth slowing to about 2.2%, 0.25% higher than its previous estimate due to improving macroeconomic trends.

Citigroup economists on Wednesday, February 22, raised their global growth forecast slightly and see a “less hard” landing but still expect the world’s economy to grow at the slowest pace in 40 years.

The Wall Street brokerage now sees global growth slowing this year to about 2.2%, 0.25% higher than its previous estimate due to improving macroeconomic trends, it said in a note by economists led by Nathan Sheets. Citigroup said its cautious pessimism is due to China’s stronger and clearer economic outlook than previously estimated, stagnation in the euro area as opposed to a contraction estimated earlier, and

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