The IMF raised its growth forecast for the US to 2.8% this year, citing strong consumer spending and non-residential investment as key contributors to increased economic activity.
Despite the optimistic projections for the US economy in 2024, the IMF warns that GDP growth will decline to 2.2% in 2025 as government spending contracts and the job market slows.
The IMF’s staff noted that persistent structural headwinds, including population aging and weak productivity, are significantly inhibiting potential growth across many economies worldwide.
In the global context, the IMF maintains a less favorable view for upcoming years, stating that a projected growth average of 3.1% over the next five years is decidedly mediocre when compared to pre-pandemic averages.
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