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IMF raises outlook for global and US economies

WASHINGTON (AP) -- The International Monetary Fund is slightly more optimistic about the global and U.S. economies this year than it was three months ago.

In an updated outlook, the global lending organization forecasts that the world economy will grow 3.7 percent in 2014 and that the U.S. economy will grow 2.8 percent. The global forecast is 0.1 percentage point higher and the U.S. forecast 0.2 point higher than in the IMF's October forecast.

After a sluggish first six months of the year, global economic growth amounted to about 3 percent in 2013. The U.S. economy is estimated to have grown less than 2 percent last year.

The IMF says the global economy picked up in the second half of 2013, and it expects that momentum to carry over into 2014.

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