UN Forecasts: Global Growth Slows for Years Amid Trade Wars

Global economic growth will slow this year and remain sluggish through 2027, according to a new United Nations forecast. The UN predicts growth of 2.7% for 2024. This is a decrease from last year's pace. It then expects only a slight rise to 2.8% in 2025 and 2.9% in 2027. All these figures remain well below the pre-pandemic decade's average of 3.2%. UN economists cite rising pressures as the cause. They point to higher U.S. import taxes, called tariffs, and ongoing geopolitical conflicts. Widespread uncertainty about future government policy is also a key factor.