U.S. Economy's Resilience Boosts Global Growth Amid Election Uncertainties

Global economic growth is expected to remain robust, driven by a strong U.S. economy despite uncertainties from the upcoming U.S. presidential election. Interest rates are generally expected to decrease globally, contributing to a positive outlook, while U.S. resilience continues to outshine other major economies.

The global economy is set to retain its strong growth momentum next year, largely powered by the U.S. economy, according to a recent Reuters poll of economists. Major central banks are implementing interest rate cuts, which, combined with strong U.S. economic performance, bolster the global economic outlook.

However, uncertainties from the impending U.S. presidential election pose potential challenges, especially concerning trade policies that could reshape economic growth prospects. Despite initial concerns about high interest rates, the U.S. economy has defied expectations, consistently exhibiting resilience and outperforming other major economies.

Across the globe, Asia showcases significant strengths, with India's rapid growth and Japan's cautious policy shifts. In contrast, China resorts to considerable fiscal stimulus to meet its growth targets. While many economies anticipate decreasing interest rates through 2025, the U.S. might see rates rise due to its continued robust performance.

(With inputs from agencies.)