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
Sparks move home game against Caitlin Clark and Indiana from Long Beach to downtown Los Angeles
LOS ANGELES (AP) — Caitlin Clark’s first WNBA game in Los Angeles is being moved to a bigger stage.T2024-05-08VOX POPULI: Look up from your smartphone and see the world around you
If aliens were to observe the Earth today, they would undoubtedly find humans to be strange creature2024-05-08Woman dies after ambulance takes hour to respond to emergency call
By Mariné Lourens of2024-05-08Two arrested in relation to gun attack on rugby players' team van
Photo: 123rf2024-05-08Swayman stops 38 shots, Bruins roll past Panthers 5
SUNRISE, Fla. (AP) — The sellout crowd in Florida was absolutely raucous during the playing of the n2024-05-08Department of Internal Affairs announces cuts, winds up water reform teams
The Department of Internal Affairs is announcing job cuts today, joining other government department2024-05-08
atest comment