Good Morning from Davos. Ahead of #WEF26 IMF has at least delivered some good news for the global economy. It now expects global GDP to grow by 3.3% this year, up from 3.1% predicted in October, driven mainly by investment in artificial intelligence. The growth forecast for 2027 remains unchanged at 3.2%. The IMF also raised its outlook for the United States by 0.3 percentage points to 2.4%, and for Germany by 0.2 percentage points to 1.1%. But in Germany’s case, that figure is underwhelming. Given the large debt packages, the weak growth of the past three years, and the fact that about 0.3 percentage points are due to calendar effects alone, 1.1% is a disappointing result.