IMF projects slow growth for US economy

Last Updated: Sun, Jul 28, 2013 09:50 hrs

The International Monetary Fund has said the US economy is improving.

The IMF, in its regular assessment of the economy, said the US still faces 'powerful headwinds', but noted gains on stock markets and in house prices.

It predicted that economic growth should gradually accelerate over the next year.

According to the BBC, the IMF said it sees a slightly brighter picture and expects economic activity to accelerate to 2.7 percent next year as the fiscal drag subsides and the negative legacies of the financial crisis wane further.

On unemployment, the IMF predicted that the rate would remain broadly stable this year.

Overall, the IMF felt that the improvement in the underlying conditions of the US economy 'bodes well for a gradual acceleration of growth,' the report added. (ANI)

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