|
Post by bot on Jan 21, 2014 18:53:52 GMT -5
IMF upgrades U.K. economic growth forecast to 2.4%
LONDON (MarketWatch) -- The International Monetary Fund on Tuesday lifted the 2014 growth forecast for the U.K., saying activity in the country has been buoyed by easier credit conditions and increased confidence. Economic growth is expected to pick up 2.4% in 2014, a significant rise from an IMF estimate in October calling for a 1.9% improvement. For 2015, the IMF expects the U.K. economy to strengthen by 2.2%. For the euro area, the IMF said the region is "turning the corner from recession to recovery" and should reach economic growth of 1% in 2014. "Conditions are increasingly favorable in the U.K. and the euro core. Public debts are on sustainable paths, and fiscal consolidation is, rightly, slowing down. Credit conditions are favourable," said IMF chief economist Olivier Blanchard in opening remarks for the World Economic Outlook Update. Germany is expected to generate growth of 1.6% in 2014, while France should see an increase of 0.9% held back by policy uncertainty. The IMF also lifted the growth outlook for the U.S. to 2.8% in 2014 from an earlier estimate of 2.6%.
|
|