 The International Monetary Fund is revising some of its forecasts, with the body saying it expects China, India and Europe to do better than some earlier projections, while it expects a modest lowering of expectations for the U.S. and Japan. Overall, the IMF says it still expects the global economy to expand at a relatively modest 3.2 percent annual rate this year. It will be unchanged from its previous forecast in April and slightly below last year's pace.