The International Monetary Fund has raised its global economic growth projections to 3.9% for 2018 and 2019, an increase of 0.2% from last year.
Why it matters: The updated forecast reflects a stronger-than-expected global recovery and changes to the U.S. tax code, which are expected to drive an additional 1.2% in U.S. growth through 2020 and lower growth from 2022 onward.