This is odd.
In the IMF’s latest World Economic Outlook for 2015, the US is the only one of the G7 and BRIC economies that had its IMF growth outlook revised up for this year.
Torsten Sløk at Deutsche Bank passed along the following chart on Tuesday morning, and added:
In the just-released IMF World Economic Outlook the 2015 forecast for the US has been raised by 0.5 to 3.6%. I used to work at the IMF WEO division and I don’t recall having seen before a forecast where the US was revised up significantly and everyone else was revised down, see chart below. I think the market and the IMF are underestimating the positive impact the solid recovery in the US will have on the rest of the world, in particular Europe, where lower oil prices and the depreciation of the euro could add several percentage points to GDP.
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