Global economic outlook may be less bad — but we’re still not in a good place, IMF chief says
Kristalina Georgieva, managing director of the IMF, said Friday at the World Economic Forum that the global economic outlook is not as bad as feared a couple of months ago — “but less bad doesn’t quite yet mean good.”
“We have to be cautious,” she told a closing panel at the World Economic Forum in Davos moderated by CNBC.
She said headline inflation was heading down and China’s reopening was expected to boost global growth, with the IMF forecasting its economy will outpace global growth of 2.7% this year, at 4.4%, after slipping below it for the first time in four decades last year.
— Jenni Reid
CNBC Pro: Wall Street likes software stocks for the long term. Here are top picks from Goldman, Citi and more
Software stocks were a pandemic darling, but their popularity waned as economies reopened.
Nevertheless, the sub-sector in tech remains a key part of several long-term secular trends, such as cloud computing and artificial intelligence.
CNBC Pro had a look at Wall Street research to find banks’ top stock picks to play the software sector.
Pro subscribers can read more here.
— Zavier Ong
European markets: Here are the opening calls
European markets are heading for a negative open Thursday as investors remain uncertain on the economic outlook, a topic high on the agenda at the World Economic Forum in Davos this week.
The U.K.’s FTSE 100 index is expected to open 37 points lower at 7,793, Germany’s DAX 69 points lower at 15,125, France’s CAC down 35 points at 7,052 and Italy’s FTSE MIB down 77 points at 25,939, according to data from IG.
CNBC will be speaking to a range of delegates at the World Economic Forum on Wednesday, including the CEOs of Enel, Merck, Rio Tinto and leaders of the Netherlands and Ireland, among others.
Follow our coverage here.
— Holly Ellyatt
CNBC Pro: Analysts love these stocks that are flush with cash — giving one over 75% upside
CNBC Pro: Alphabet or Microsoft? Analysts predict which stock will come out on top