US showing increasing signs of cooling (Il Sole 24 Ore Radiocor) - New York, 16 Jul - The International Monetary Fund confirmed its forecast for global growth at 3.2% for this year and 3.3% for next year, with growth in major advanced economies becoming more aligned as output gaps close.

The United States shows increasing signs of cooling, especially in the labor market, after a strong 2023 while the euro area is poised to pick up after a nearly flat performance last year, it said in its latest World Economic Outlook.

Asia's emerging market economies remain the main engine for the global economy, the IMF's chief economist Pierre-Olivier Gourinchas wrote in a blog post.

"Growth in India and China is revised upwards and accounts for almost half of global growth. Yet prospects for the next five years remain weak, largely because of waning momentum in emerging Asia. By 2029, growth in China is projected to moderate to 3.3%, well below its current pace," he said.

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(RADIOCOR) 16-07-24 19:22:36 (0723) 5 NNNN