The IMF also raised its 2017 global growth forecast by 0.1 percentage point from 3.4 percent to 3.5 percent.
This was the first time for the IMF to revise its annual global economic forecast in the World Economic Outlook since January 2014 (from 3.6 % to 3.7%). The World Economic Outlook is issued four times a year in every January, April, July, and October.
As the reason for the upward revision of its global economic growth forecast, the IMF explained, "The industrialized economies are improving faster than expected thanks to the recovery of the global manufacturing industry and the improvement in the sentiment of economic players since the U.S. presidential election."
The IMF raised its annual economic growth forecast for the industrialized economies by 0.1 percentage point to 2.0 percent from 1.9 percent.
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