The IMF revises Italy's growth upwards.
After + 6.6% in 2021, GDP is expected to rise by 3.2% in 2022, or 0.2 percentage points more than the July estimates (+0.9 points on April).
For 2023, on the other hand, the Fund cuts its forecasts by 0.9 percentage points (-1.9 points on April), estimating a contraction of the economy of 0.2%.
In 2022, Italy is thus growing more than Germany (+ 1.5%) and France (+ 2.5%).
In Italy, the recovery of tourist services and industrial production in the first half of 2022 contributed to growth forecasts of 3.2% which are expected to "slow down" in 2023.
Meanwhile, German and French growth is slowing down in 2023. The IMF estimates that Germany's GDP will contract by 0.3% next year (-1.1 percentage points compared to July's forecasts) after reaching + 1.5% in 2022 (+0.3 points).
France, on the other hand, is expected to grow by 2.5% this year (+0.2 points) and by 0.7% next (-0.3).
Spain and Great Britain are also holding back.
The British economy will grow by 0.3% in 2023 (-0.2 points) and the Spanish economy by 1.2% (-0.8).
"Storm clouds gather" over the global economy, which bears downside risks.
The IMF confirms the growth of 2022 at + 3.2% but revises down that of 2023 to 2.7% (-0.2 percentage points on the July estimates).
"More than a third of the global economy will contract in 2023, while the three largest economies - the US, China and the European Union - will continue to stall. In short, the worst is yet to come and for many, 2023 will be felt as a recession," he says. IMF chief economist Pierre-Olivier Gourinchas, pointing out how the invasion of Russia continues to forcefully destabilize the global economy.