By Peter Schroeder - 01/21/14 10:24 AM EST
The economies of the United States and the globe are expected to pick up the pace in 2014, according to a new outlook from the International Monetary Fund.
The global organization reported Tuesday that it was slightly more optimistic about future economic prospects, and had upgraded slightly its expectations for the U.S. It now expects the U.S. economy to grow 2.8 percent in 2014, up from a 2.6 percent expectation in October. In 2015, the IMF anticipates the U.S. economy will hit the 3 percent mark.
The IMF estimated that the U.S. economy grew 1.9 percent in 2013, compared to 3 percent worldwide.
Overall, the IMF expects the global economy will grow 3.7 percent in 2014, again up slightly from its October forecast. Much of that growth is expected to come from emerging economies across the globe, slated for 4.9 percent growth this year.