The International Monetary Fund has lowered its 2026 global growth projection to 3.0%, a 0.1 percentage-point cut from April, while lifting its 2027 estimate to 3.4%. The revision comes as global inflation expectations were raised to 4.7% for this year.
Britain stood out as a bright spot, with the IMF upgrading UK growth to 1.0% in 2026, up 0.2 points from April. The United States held steady at 2.3%, China was projected at 4.6%, and Japan was downgraded to 0.6%.
The eurozone outlook darkened, with the bloc's forecast cut to 0.9%, dragged down by weaker readings for Germany at 0.7% and France at 0.6%. Spain maintained 2.1% growth. Meanwhile, oil prices surged on Wednesday after Donald Trump declared a ceasefire "over."