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IMF Hikes 2004 Growth Forecasts, Report Claims

News, 19 March 2004

The International Monetary Fund has reportedly raised its predictions for global economic growth in 2004.

According to German newspaper Handelsblatt, the IMF is now predicting 4.6% worldwide expansion, a 0.6-point rise on its autumn estimates.

Of the major world economies, Japan has seen the best improvement in its outlook. It is now on course for 3.2% growth this year, a hike of 1.8 points from the previous prediction.

The IMF's forecast for US expansion has also been raised, up 0.7 points to 4.6%, while the outlook for the UK is up 0.6 points to 3.1%.

Estimates for the twelve-nation Eurozone, however, stay the same at 1.9%, though its largest economy, Germany, sees its forecast rise 0.2 points to 1.7%.

Data sourced from: BBC Online Business News (UK); additional content by WARC staff