United Kingdom

IMF Raises Growth Forecast For the UK

From 1.9 percent to 2.4 percent

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The International Monetary Fund (IMF) has raised sharply its growth forecast for the UK economy.

It now expects the economy to grow 2.4% this year—faster than any other major European economy—against its previous forecast of 1.9%. In 2015, it expects growth of 2.2%.

This brings its 2014 forecast in line with that of the UK's Office for Budget Responsibility.

The IMF also raised its global growth outlook slightly to 3.7%.

"Global growth is expected to increase in 2014 after having been stuck in a low gear in 2013," its latest report said.

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