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Economy

Prospects for the global economy are improving, as worst fears fade

International Monetary Fund and Wall Street analysts are more upbeat, with resilient hiring in the United States, signs of growth in Europe and the reopening of China

By
January 30, 2023 at 8:30 p.m. EST
A customer browses meat at a market in Pleiku, Vietnam, on Jan. 2. Vietnam’s economy grew at the fastest pace in Asia in 2022, signaling momentum. (Maika Elan/Bloomberg News)
8 min

The outlook for the global economy in recent weeks has unexpectedly brightened, with the United States, Europe and China all outperforming expectations and avoiding — at least for now — some predicted stumbles.

American employers continue to hire at a steady clip while the latest European manufacturing gauges signal expansion and Chinese consumers are spending again.