IMF upgrades global growth forecast as tariffs ease
Summary
The International Monetary Fund (IMF) has raised its global growth forecast due to eased U.S. tariffs and other government actions. The IMF now predicts global growth of 3% in 2025 and 3.1% in 2026, up from earlier estimates.Key Facts
- The IMF updated its forecast for global economic growth due to softened U.S. tariffs.
- U.S. imports surged as companies tried to avoid new import taxes.
- The IMF warns that higher tariffs and uncertainty could still harm future growth.
- The UK's growth prediction for this year is 1.2%, rising to 1.4% in 2026.
- The UK is expected to be the third fastest-growing economy among advanced countries, after the U.S. and Canada.
- The IMF’s forecast expects global growth to be 3% in 2025 and 3.1% in 2026.
- Increased imports to the U.S. may result in excess stock and increased storage costs for businesses, which could lead to future risks.
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