IMF Upgrades Global Growth Outlook But Warns Recovery Remains Fragile
• IMF upgrades 2024 global economic growth forecast to 3.1%, matching 2023 rate; sees acceleration to 3.2% in 2025 • Recovery remains fragile and could be threatened by Middle East conflicts disrupting oil exports and shipping in Red Sea • China's economy expected to grow 4.6% in 2024, up 0.4 points from previous IMF forecast • Global inflation projected to drop from estimated 6.8% in 2023 to 5.8% in 2024 as energy and labor markets cool • But core inflation, wage growth still a concern; government debt burdens may force spending cuts if rates stay high