Citigroup raises global growth forecast, sees U.S. recession in Q4
FILE PHOTO: The logo for Citibank is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly/File Photo
(Reuters) – Citigroup (NYSE:C) raised its 2023 global economic growth forecast to 2.4%, from 2.2% expected earlier, and now expects the U.S. economy to tip into recession in the fourth quarter of the year.
They had earlier expected a U.S. recession in the third quarter of 2023.