IMF cuts global growth outlook but raises UK forecast

Article source
BBC News

The International Monetary Fund (IMF) has trimmed its forecast for global economic growth at the same time as lifting its UK growth projection.

It now expects global growth of 2.9% this year, a cut of 0.3% from July's estimate. In 2014 it expects global growth of 3.6%, down 0.2%.

It cited weakness in emerging economies for the cut.

The forecast for UK growth this year received a significant upgrade to 1.4%, up from July's estimate of 0.9%.

And for next year the IMF expects UK growth of 1.9%, up from July's projection of 1.5%.

The IMF's upgrades for its outlook on the UK are larger than those it made for any other country in its World Economic Outlook - its twice-yearly assessment of the global economy.

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