S&P Global has released its second-quarter economic outlook reports for the US and emerging markets.
In the report on the US economy, it was stated that economic growth in the US is expected to be 2.5 percent in 2024 due to the labor market remaining robust.
The report noted that the total economic growth forecast for emerging countries has been raised from 4.1 percent to 4.2 percent for 2024, and from 4.5 percent to 4.6 percent for 2025.
The report stated that compared to the November report, the largest upward revisions in growth forecasts for this year were made for Mexico with 70 basis points, Turkey with 60 basis points, Peru with 50 basis points, and India with 40 basis points, while forecasts were lowered most for Argentina with 200 basis points, Saudi Arabia with 50 basis points, Hungary with 40 basis points, and Poland and Thailand with 30 basis points each.
TURKEY'S GROWTH FORECAST ANNOUNCED
In the report, the growth forecast for China for this year was kept constant at 4.6 percent, while it was raised from 6.4 percent to 6.8 percent for India.
Turkey's 2024 growth forecast was raised by 60 basis points, while it was lowered to 2.8 percent for 2026.
The growth forecast for Turkey was raised from 2.4 percent to 3 percent for 2024 and from 2.7 percent to 3 percent for 2025.
On the other hand, the growth expectation for the Turkish economy for 2026 was lowered from 3 percent to 2.8 percent.
News Source: 12punto
