The organization projects that recessions will be avoided "almost everywhere"
Consumer spending puts economy on track for 5.2% annual growth, up from 4.9% estimated last quarter
Jobless claims -- seen as a proxy for layoffs -- dropped by 24,000 to 209,000
Biggest year-over-year gain since April
The U.S. Labor Department also finds that wage gains are easing, a trend that may signal cooling inflation pressures
The agency forecasts global growth of 2.1% this year, down from 3.1% in 2022
The possibility of a hard landing has "risen sharply," the IMF says
``The worst is yet to come,'' chief economist says
For many countries, recession will be hard to avoid, the agency's president said
As the Fed's rate hikes take effect, they will make it increasingly expensive to spend and hire