Global economies are recovering simultaneously and at a stronger pace, and will get at least a short-term boost from the US tax cuts, the International Monetary Fund said Monday. The global economy is now expected to grow 3.9 percent this year and next, two-tenths higher than the previous estimate, and up from 3.7 percent in 2017. “The revision reflects increased global growth momentum and the expected impact of the recently approved US tax policy changes,” the IMF said. And for 2019, the IMF increased its US growth forecast a whopping 0.6 points from October to 2.5 percent. Spain, with the hit from the independence movement in Catalonia, was a rare exception, seeing a one-tenth downgrade in the 2018 forecast to 2.4 percent.

Source: The Guardian January 22, 2018 16:07 UTC