IMF Upgrades Economic Outlook for China and India, Predicts Sluggish Global Growth

China and India are expected to drive nearly half of global growth in 2024, but long-term prospects remain weak.

• China's economy is forecasted to grow 5% in 2024, with growth slowing to 3.3% by 2029.
• India's growth is projected at 7% in 2024, declining to 6.5% by 2025.
• Global growth remains unchanged at 3.2% for 2024, with a slight increase to 3.3% in 2025.
• The U.S. economy is expected to grow by 2.6% in 2024, with inflation easing to 3%.
• Eurozone growth is revised up to 0.9% for 2024, driven by strong services and export momentum.

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