China notified the International Monetary Fund on Thursday that its economy grew by 5% in 2024, IMF Chief Economist Pierre-Olivier Gourinchas told reporters, calling the development a "positive surprise" compared to the IMF's forecast of 4.

Global growth is expected to increase slightly this year while remaining stuck below its pre-pandemic average, the IMF said Friday, flagging the growing economic divide between the United States and European countries.

The U.S. economy has separated itself from the global pack — and its lead could widen in the new year. That’s the upshot of a new forecast by the International Monetary Fund, the organization created at the end of World War II to support the global economy.

The IMF projects that the US economy will grow by 2.7%, up from an earlier estimate of 2.2%. By contrast, the institution lowered its estimates for the eurozone and Canada, which are facing a number of economic challenges.

The United Nations financial agency updated its projections for full-year U.S. growth in 2025 to 2.7%, up from 2.2%.

The International Monetary Fund upgraded its global growth forecast for this year, spurred by stronger-than-expected US demand and slowing inflation worldwide that will let central banks continue to cut interest rates.

The International Monetary Fund (IMF), on Friday projected that the Indian economy will grow at 6.5 per cent in the year 2025. Interestingly, the growth rate of the Indian economy is the highest among its global peers.