IMF upgrades UK’s economic outlook

The International Monetary Fund (IMF) has upgraded its growth forecast for the UK economy this year. 

The global institution upgraded its prediction for UK growth to 1.6% for this year from its previous estimate of 1.5%. 

As well as upgrading its outlook for the UK, the IMF suggested the UK economy would perform better than European economies such as Germany, France and Italy over the next two years.