IMF raises global growth forecast to 4.4%

The International Monetary Fund has revised its global growth forecast upwards to 4.4%, as the UK is expected to report a slowdown in its recovery later this morning.

The figure is up from 4.2%, last published in October. The IMF's growth forecast for the US has jumped from 2.3% to 3% for the year. Estimates for UK growth remain unchanged at 2%, reports the BBC, but GDP figures released at 9.30am are expected to show growth slowed in the last three months of 2010. China and India's growth projections, of 9.6% and 8.4% respectively, were also unrevised, along with Japan and the eurozone, which are both expected to report growth of 1.5% each. The IMF says there will be a two-speed recovery, with advanced economies growing more slowly than emer...