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.
A charity run, meals for the needy, a long-running music festival and -- shhh! -- holiday shopping were on tap for Thanksgiving Day in San Diego.
The average price of a gallon of self-serve regular gasoline in San Diego County was at its highest amount on Thanksgiving since 2013 Thursday, despite dropping for 10 consecutive days.
The California Highway Patrol arrested 15 in San Diego County on suspicion of drunken driving, during the first night of its annual Thanksgiving "maximum enforcement period."
The always-heated topic of whether to begin holiday shopping on Thanksgiving Day will be raised again Thursday, as many chain stores will open their doors around San Diego one day before the so-called "Black Friday."
A charity run, meals for the needy, a long-running music festival and holiday shopping are on tap for Thursday's Thanksgiving Day in San Diego.
Your living room often becomes your work space if you work from home. If you have kids, the house can be even more chaotic. Well now, more women are able to take 10-15 steps out of their home and into their "she shed."
Around 60,000 passengers are expected to pass through San Diego's Lindbergh Field daily during the upcoming holiday weekend.