The International Monetary Fund (IMF) has upgraded its global economic growth forecast for 2025 and 2026 due to a softening of some US tariffs and a surge in US imports. While growth estimates have improved, the IMF warns that persistent tariffs and uncertainty could still hinder economic activity.

• IMF predicts global growth of 3% in 2025 and 3.1% in 2026, up from its April forecast.
• Chief Economist Pierre-Olivier Gourinchas noted a "modest decrease in trade tensions" contributed to global economic resilience.
• The UK's growth forecast remains unchanged at 1.2% for this year and 1.4% in 2026, positioning it as the third fastest-growing advanced economy.