The International Monetary Fund (IMF) increased its forecast for global economic growth in 2019. In a recent update, the IMF predicted that the world economy will expand by 2.9% this year. This is an improvement from their previous projection of 2.7%.
The revised forecast comes as inflation rates have cooled and household spending has surprised to the upside in many countries across the globe. The IMF noted that while trade tensions remain a major risk factor, there are encouraging signs of resilience among some economies such as China and India which have been able to counterbalance these risks with strong domestic demand-driven growth prospects over time.
Overall, this improved outlook reflects more positive sentiment about global economic conditions compared to earlier estimates made at the start of 2019 when fears were high regarding slowing growth due to US-China trade disputes and other geopolitical uncertainties around Brexit negotiations or rising oil prices at that time. As it stands now, however, it appears those worries may be abating somewhat allowing for more optimistic projections going forward into 2020 where further progress can be expected if current trends continue unchanged or improve further still over the coming months ahead.
Read more at CNBC
