IMF upgrades economic outlook for China, India, and Europe, maintains 3.2% global growth in 2024.

The International Monetary Fund (IMF) has upgraded its economic outlook for China, India, and Europe while moderately lowering expectations for the US and Japan. The IMF forecasts a steady 3.2% global growth in 2024, unchanged from April. China's growth forecast for 2024 was raised to 5%, and India's growth forecast for 2024-25 was increased to 7% due to improved prospects for private consumption, particularly in rural areas. Despite the upgrades, the IMF warns of ongoing inflation risks and trade tensions, which could impact global growth.