IMF Raises U.S. Growth Forecast for 2023, Maintains Global Outlook

The International Monetary Fund (IMF) has raised its growth forecast for the United States in 2023, citing stronger business investment and resilient consumption growth. However, it revised down its growth forecast for the euro zone due to slower trade and higher interest rates. The IMF reiterated a global growth forecast of 3% for the year, but noted that the global economy is "limping along" and facing headwinds such as a slowdown in manufacturing and central bank tightening. China's growth momentum is also fading, according to the IMF.