IMF: Outlook for world economy is brighter, though still modest by historical standards
WASHINGTON (AP) — The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth.
The IMF now envisions 3.2% worldwide expansion this year, up a tick from the 3.1% it had predicted in January and matching 2023’s pace. And it foresees a third straight year of 3.2% growth in 2025.
In its latest outlook, the IMF, a 190-country lending organization, notes that the global expansion is being powered by unexpectedly strong growth in the United States, the world’s largest economy. The IMF expects the U.S. economy to grow 2.7% this year, an upgrade from the 2.1% it had predicted in January and faster than a solid 2.5% expansion in 2023.
Though sharp price increases remain an obstacle across the world, the IMF foresees global inflation tumbling from 6.8% last year to 5.9% in 2024 and 4.5% next year. In the world’s advanced economies alone, the organization envisions inflation falling from 4.6% in 2023 to 2.6% this year and 2% in 2025, brought down by the effects of higher interest rates.
Related articles
The government wants to buy their flood
HOUSTON (AP) — After the floodwaters earlier this month just about swallowed two of the six homes th2024-05-21Man United are 'playing like a small club', blasts Roy Keane after their 2
Roy Keane declared that Manchester United are 'playing like a small club' after being held by Liverp2024-05-21BBC announce Tom Hiddleston is set to return to The Night Manager for two more series
The BBC have announced hit drama The Night Manager will return once again as Tom Hiddleston reprises2024-05-21'It's Rory Delass!' Republic of Ireland's Megan Campbell wows fans with her catapult 38
Football fans have been left stunned by Republic of Ireland women's player Megan Campbell and her ca2024-05-21Mohammad Mokhber: Who is Iran’s acting president?
DUBAI, United Arab Emirates (AP) — Iran’s first Vice President Mohammad Mokhber was appointed as act2024-05-21Tiger Woods heads out onto Augusta National course with Justin Thomas for another pre
Tiger Woods enjoyed another pre-Masters practice round on Tuesday morning after heading back out ont2024-05-21
atest comment