The International Monetary Fund on Tuesday upgraded its economic outlook for the United States this year, while lowering its expectations for growth in Europe and China. It left its forecast for global growth unchanged at a relatively lackluster 3.2% for 2024. The IMF expects the US economy the world's largest to expand 2.8% this year, down slightly from 2.9% in 2023 but an improvement on the 2.6% it had forecast for 2024 back in July. Growth in the United States has been led by strong consumer spending, fuelled by healthy gains in inflation-adjusted wages. Next year, though, the IMF expects the US economy to decelerate to 2.2% growth. With a new presidential administration and Congress in place, the IMF envisions the nation's job market losing some momentum in 2025 as the government begins seeking to curb huge budget deficits by slowing spending, raising taxes or some combination of both. The IMF, a 190-nation lending organisation, works to promote economic growth and financial .