IMF: U.S. economy improving but tax increases a drag

WASHINGTON — The International Monetary Fund said Friday that the U.S. economy is on sounder footing than it was a year ago but is restrained by government spending cuts and tax increases.

The IMF’s annual report on the U.S. economy said that the underlying fundamentals are gradually improving: Home prices and construction are rising, household finances have strengthened and employers are steadily adding jobs. But the IMF forecasts growth of just 1.9 percent this year. That’s down from 2.2 percent in 2012 and it’s below many private economists’ expectations.

Read more in Saturday's Arkansas Democrat-Gazette.

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