The International Monetary Fund raised its economic forecast for the United States this year while lowering its growth forecasts for Europe and China. He left his global growth forecast unchanged at 3.2% relatively lackluster for 2024. He cut his forecast for global growth for next year by 0.1 percentage point from July's estimate of 3.3 percent, warning of accelerating risks from war and trade protectionism, even as he praised central banks for taming inflation without pushing countries into recession.
The IMF expects China's economic growth to slow from 5.2 percent last year to 4.8 percent this year and 4.5 percent in 2025. The world's second-largest economy has been disrupted by a collapsing housing market and weak consumer confidence, problems that strong exports only partially offset.
