US on ‘very narrow path’ to avoid recession

July 25, 2023

China’s rebound from zero-Covid curbs has not been as strong or sustained as hoped

IMF chief economist Pierre-Olivier Gourinchas says the US is likely to avoid a recession, while Russia’s economy is holding up surprisingly well, helped by oil revenues, despite sanctions. (Photo: AFP)

WASHINGTON: The US economy is on a “very narrow path” to avoiding a recession, the International Monetary Fund’s chief economist says, while warning of risks to China’s strong post-pandemic recovery.

“A recession is not in our baseline,” Pierre-Olivier Gourinchas told AFP during an…