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Economic forecasting doesn't necessarily have a good record, and there will be factors at play which have nothing to do with the government, but this report is perhaps counterintuitive given the current narrative.
The UK upgrade was in contrast to the eurozone, where the IMF revised down its forecasts for growth in 2025 in Germany, France and Italy.
The chancellor, Rachel Reeves, said: “The UK is forecast to be the fastest growing major European economy over the next two years and the only G7 economy, apart from the US, to have its growth forecast upgraded for this year."
Germany was expected to recover from a two-year period of contraction with a 0.8% growth rate in 2025, but the forecast was downgraded in the latest assessment to just 0.3%. France is predicted to grow by 0.8% after a 0.3 percentage point downgrade.
Next year, the UK is on course to grow by 1.6%, topping France, Germany and Italy for a second successive year.
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