IMF Raises U.K. Growth Forecast for 2017, Reversing Previous Cut
- Washington-based group expects 1.5% expansion this year
- Pro-Brexit groups have criticized IMF for scaremongering
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The International Monetary Fund raised its forecast for the U.K. economy this year, reversing a cut just over three months ago because of the pace of growth in the second half of 2016.
In an update to its World Economic Outlook published Monday, the Washington-based group upgraded its projection to 1.5 percent from 1.1 percent. That would compare with estimated growth of 2 percent in 2016.