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
Emily Henry interview: The secret to having a healthy relationship with love
NEW YORK (AP) — “Nothing forces you to face your demons like falling in love.”And it’s almost always2024-04-30Oswaldo Cabrera homers, Yankees survive late scare, beat Guardians 3
CLEVELAND (AP) — Oswaldo Cabrera hit a two-run homer and the New York Yankees survived a scare in th2024-04-30Xi leads China in boosting tech self
By Wang Cong and Chi Jingyi (Global Times) 09:48, May 31, 2023On a sweltering Friday afternoon, cran2024-04-30Pope Francis sides with Peruvian villagers who accused Catholic group of trying to steal their land
QUITO, Ecuador (AP) — Pope Francis on Saturday sided with a group of Peruvian villagers who have com2024-04-30Foreign diplomats impressed by traditional culture, high
Envoys from 28 countries and international organizations, including Ireland, Saudi Arabia, Japan and2024-04-30Chinese state councilor stresses meticulous preparations for Hangzhou Asian Games
(Xinhua) 08:33, May 18, 2023SHANGHAI, May 17 (Xinhua) -- Chinese State Councilor Shen Yiqin has call2024-04-30
atest comment