The News
The world economy is on track for modest growth in the next two years, but momentum in the fight against inflation is slowing, the IMF said Tuesday.
In its updated economic forecast, the organization left its 2024 growth forecast unchanged at 3.2% and raised its 2025 forecast by 0.1 percentage point, to 3.3%.
Compared to its predictions in April, the IMF significantly raised its growth estimates for China on the back of strong first-quarter exports and consumption, while slightly reducing the US’, as the economy cools.
The estimates come as central banks prepare to ease monetary policies, but the IMF’s chief economist told the Financial Times that officials should “be ready for more bumps in the road” as they try to get inflation down to a 2% goal.