Photographer: Luke MacGregor/Bloomberg

Global Optimism Bypasses U.K. Yet Again in Latest IMF Upgrades

A rising tide lifts most boats, according to the latest International Monetary Fund forecasts, which saw upgrades for almost every major economy except the U.K.

In an update to its World Economic Outlook, the IMF lifted its global growth prediction to 3.9 percent for both this year and next. That would be the strongest expansion since 2011. Excluding the U.K., there were upward revisions for every Group of Seven nation, while projections for China were also raised.

Spot the Difference

The IMF upgraded almost every major economy bar the U.K.

Source: International Monetary Fund

Note: Percentage point difference compared with October World Economic Outlook

Read more: IMF says U.S. tax cuts will lift global growth

For the U.K., growth is seen at 1.5 percent in both years. That’s unchanged for 2018 and marks a modest 0.1 percent reduction for 2019. It’s not the first time that IMF optimism hasn’t extended to the U.K. In October, its 2017 estimate for the economy was left unchanged amid upgrades elsewhere.
 

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