The IMF has raised its outlook for the global economy this year, while maintaining a gloomy forecast over the medium term, according to fresh data published Tuesday.
economyeconomy to grow by 3.2 percent this year, up 0.1 percentage point from its previous forecast in January, and by a further 3.2 percent in 2025, according to the latest World Economic Outlook report.
"Most indicators continue to point to a soft landing," he said, referring to attempts by many central bankers to bring inflation down to target without fueling unemployment or hampering economic growth.Mideast-related oil price spike threatens 'relatively good' economic outlook: IMF chief economist In contrast, the euro area is now expected to grow by just 0.8 percent in 2024 -- down 0.1 percentage point from January and only slightly above last year's tepid 0.4 percent expansion -- before picking up to 1.5 percent in 2025.The outlook for the United Kingdom and Canada this year has also been revised lower, while Japan's 2024 growth forecast was unchanged.China, the world's second-largest economy, is still expected to grow by 4.6 percent this year, and by 4.
Although a full percentage point below India's growth figure for 2023, the robust growth expected this year reflects the South Asian economy's"continuing strength in domestic demand and a rising working-age population," the IMF said.
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