IMF upgrades UK growth forecast as fears over impact of Iran war diminish

The UK is getting a small vote of economic confidence. According to The Guardian, the International Monetary Fund has raised its growth forecast for Britain, now projecting gross domestic product to expand by one percent this year, up zero point two of a percentage point from its April estimate. That would make the UK the third fastest-growing economy in the G7. The upgrade came as the Fund left forecasts for other G7 nations unchanged or weaker, amid hopes that the economic fallout from the Iran war may prove less severe than initially feared. The Guardian notes the July update was finalized before the latest outbreak of hostilities in the Middle East.

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