WASHINGTON (AP) — The world economy is picking up momentum.
The International Monetary Fund on Tuesday raised its forecast for global growth to 3.6 percent this year and 3.7 percent in 2018. For both years, the outlook is up 0.1 percentage points from the IMF's previous forecast in July and would mark the fastest growth since 2011. The world economy grew 3.2 percent in 2016.
The United States, the 19-country eurozone, Japan and China are all forecast to grow faster this year.
World trade is expected to grow 4.2 percent this year, the most in six years.
IMF chief economist Maurice Obstfeld said the sunnier outlook for the United States — 2.2 growth this year versus 1.5 percent in 2016 — did not include any expectations that the U.S. Congress will pass big tax cuts and just reflected healthy U.S. growth in the first half of 2017.
A pickup in investment, industrial production and consumer and business confidence also underpins the improved global outlook.
But lackluster productivity growth and aging populations continue to drag on growth in the world's wealthiest countries. The international lending agency also notes that inflation remains worryingly low, a sign that the world economy still has not returned to full health in the aftermath of the Great Recession of 2007-2009.
China is expected to report faster growth this year for the first time since 2010, easing concerns that fallout from a slowdown in the world's second-biggest economy will drag down growth elsewhere. But the IMF warns that China has taken on high debts to juice growth and advised Chinese authorities to continue a recent effort to limit growth in credit.
In an indirect reference to the election of President Donald Trump in the United States and Britain's decision to leave the European Union, chief economist Obstfeld also warned that growing income inequality within countries has "helped fuel political disenchantment" and a backlash against globalization.
An ex-con who allegedly killed the proprietor of an East Village flooring-materials store at the victim's downtown business during a robbery pleaded not guilty Friday to a murder charge that could lead to the death penalty if he's convicted.
UTC Aerospace Systems plans to wind down manufacturing at its Chula Vista aircraft plant beginning early next year, eliminating around 300 jobs, it was reported Friday.
Defined as a person who behaves badly, but in an amusing way, a scallywag does not mean to cause harm, but to have fun. The same kind of mischief will be happening on Saturday, October 20 at Waterfront Parki in downtown San Diego as the day long Ye Scallywag music and beer festival takes place.
A light plane occupied by a flight instructor and a student pilot made a safe emergency landing Friday amid late-morning traffic on Interstate 8 in El Cajon.
Residents in El Cajon are sounding the alarm on what they say are growing problems related to increased homelessness in the area. Some neighbors say they feel unsafe in their own yards because of drug use and nearby encampments.
Strong and gusty Santa Ana winds, low humidity and warm temperatures prompted the National Weather Service to issue a red flag fire warning Friday denoting a strong risk of wildfire in San Diego County.
San Diego State University students who were recently vaccinated for meningitis may need to receive the vaccine again, the school and Walgreens warned on Friday.
A man who allegedly murdered the proprietor of an East Village flooring-materials store at the victim's downtown business while wearing a Halloween-style old-lady mask is in custody, facing charges of murder and robbery. San Diego police reported Thursday.
A pedestrian was rescued from underneath a vehicle Friday after she was struck near an Interstate 805 on-ramp in the Mountain View area, authorities said.
This free family Halloween day is Saturday, October 20 from 11 a.m. to 5 p.m. at the Pier Plaza in Imperial Beach!