The International Monetary Fund upgraded its economic outlook for the United States, projecting a 2.8% expansion this year, despite lowering estimates for growth in China and Europe. China’s economic growth is expected to slow to 4.8% this year, down from 5.2% last year, while global growth forecasts remain unchanged at 3.2% for 2024.
The IMF highlighted concerns over geopolitical tension affecting world trade efficiency, particularly regarding relations between the United States and China. Next year, the IMF expects the U.S. economy to start slowing down, mostly due to the new political administration.