The IMF upgraded its global growth forecast for 2024 by 0.2 percentage points, to 3.1% due to resilience in the U.S. economy, Chinese fiscal stimulus measures, and strong performances from large emerging market economies. The IMF cited unexpected strength in the U.S. economy in Q4 2023, with growth of 3.3%, while China has also implemented fiscal stimulus measures to boost its economy amid issues like deflation and the property sector crisis. Inflation is falling faster than expected globally, which the IMF's chief economist called "good news".