UK Economy much improved - IMF

The British economy is in far better shape than expected and the outlook has improved by more than any other major nation - according to the International Monetary Fund today.

The global watchdog is raising its' prediction of gross domestic product growth in the UK this year to an increase by 2.4 per cent - considerably better than the 1.8 per cent it forecast just three months ago.

The Washington-based Fund is also likely to nudge up its forecasts for the global economy but the upgrade for the UK is expected to be the biggest by far.

More details available here.

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