BY PAUL WISEMAN
WASHINGTON (AP) — The International Monetary Fund on Tuesday upgraded its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by stickier-than-expected inflation for services, from airline travel to restaurant meals.
Overall, the IMF said it still expects the world economy to grow a lackluster 3.2% this year, unchanged from its previous forecast in April and down a tick from 3.3% growth in 2023.
“Global growth remains steady,” Pierre-Olivier Gourinchas, the IMF’s chief economist, told reporters.
Still, the world economy’s expansion remains unimpressive by recent historical standards. From 2000 through 2019, before the pandemic upended economic activity, global growth had averaged 3.8% a year.
The IMF, a 190-nation lending organization, works to promote economic growth and financial stability and reduce global poverty.
Gourinchas estimated that China
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