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. |
Planning for potential presidential transition underway as Biden administration kicks it offSheriff's deputies fatally shoot driver while serving a highBrewers leftChina urges EU to create nonEmma Roberts has 'best day ever' going to Disneyland 'for the first time' with her son RhodesBrewers leftShohei Ohtani responds to Toronto boos by hitting 7th homer as the Dodgers beat the Blue Jays 12Mississippi police were at odds as they searched for missing man, widow saysSheriff's deputies fatally shoot driver while serving a highSilver economy sees more talent, infrastructure support