The US economy if far outpacing the economies of the other members of the G7. The US has seen its GDP grow by a total of 7.4% since the fourth quarter of 2019, according to seasonally-adjusted figures from the OECD. Canada and Italy hovered between 3-4% cumulative growth over that period, while Japan, the United Kingdom, France, and Germany grew 2.4%, 1.8%, 1.8%, and 0.3%, respectively. Moreover, the International Monetary Fund (IMF) projects the U.S. to grow by 2.1% in 2024. The IMF forecasts Canada to come second in GDP growth at 1.4%. The other leading countries come at a distant number. Additionally, IMF recognizes that “[i]nflation is falling faster than expected in most regions, in the midst of unwinding supply-side issues and restrictive monetary policy. Global headline inflation is expected to fall to 5.8 percent in 2024 and to 4.4 percent in 2025, with the 2025 forecast revised down.”
For additional information: (a) Yahoo Finance (b) IMF Soft Landing and (c) U.S. Economy Grew Faster Than Any Leading Country.