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IMF raises global growth forecast

Staff Writer | October 11, 2017
The International Monetary Fund (IMF) raised its global growth forecast for 2017 and 2018 due to a broad-based recovery in Europe, China, Japan and the United States.
IMF
World   The International Monetary Fund
In its latest World Economic Outlook, the IMF forecast that the global economy will grow by 3.6 percent in 2017 and 3.7 percent in 2018, both 0.1 percentage point higher than its previous forecast in July.

"The global recovery is continuing, and at a faster pace... we see an accelerating cyclical upswing boosting Europe, China, Japan, and the United States, as well as emerging Asia," said IMF chief economist Maurice Obstfeld.

The IMF expects the Chinese economy to grow 6.8 percent this year and 6.5 percent next year, both 0.1 percentage point higher than its previous forecast in July.

The fund also revised up its U.S. growth forecast to 2.2 percent in 2017 and 2.3 percent in 2018, 0.1 and 0.2 percentage point, respectively, higher than its projection in July.

The euro area recovery is expected to gather strength this year, with growth projected to rise to 2.1 percent in 2017 before moderating to 1.9 percent in 2018, according to the IMF.

The forecast for 2017 and 2018 are both 0.2 percentage point higher than the projection in July.

Growth projection for Japan was revised to 1.5 percent in 2017 and 0.7 percent in 2018, up 0.2 and 0.1 percentage point, respectively, from the forecast in July.


 

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