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IMF upgrades global growth forecast, citing U.S. resilience and policy support in China
The International Monetary Fund on Tuesday nudged its global growth forecast higher, citing the unexpected strength of the U.S. economy and fiscal support measures in China. It now sees global growth in 2024 at 3.1%, up 0.2 percentage points from its prior October projection, followed by 3.2% expansion in 2025. Large emerging market economies including Brazil, India and Russia have also performed better than previously thought. The IMF believes there is now a reduced likelihood of a so-called “hard landing,” an economic contraction following a period of strong growth, despite new risks from commodity price spikes ... (full story)