Pimco, home to the world's largest bond fund run by co-founder Bill Gross, said on Thursday that it expects U.S. economic growth to run between 2.25 and 2.75 percent in 2014.

Pacific Investment Management Co, better known as Pimco, also said in a research report to clients that the firm expects the global economy to grow between 2.5 percent and 3 percent in the next year.

"Many of the challenges faced during 2013 have either progressed toward a point of self-exhaustion or are being overcome via alternatives to yield a brighter outlook for global growth in 2014," portfolio manager Saumil H. Parikh said in the report.

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A spokeswoman said Parikh's report represents the views of Pimco, which oversees roughly $2 trillion in assets under management.

Parikh said that in the United States, the abatement of fiscal policy tightening combined with steady improvements in labor market demand and higher asset valuations is likely to drive real economic growth from its current 1.8 percent rate toward 2.25 percent to 2.75 percent next year.

"Included in this view are a continued improvement in demand for housing and consumer durables, somewhat faster household income growth and a small acceleration in non-residential investment growth on the back of extraordinarily easy financial conditions that benefit corporations," he said.

Pimco said it expects the eurozone to finally emerge from recession in 2014.

"With monetary policy clipping the nasty left tail of a sudden stop in eurozone growth, and fiscal policy transitioning from tight to broadly neutral, select steady improvements in competitiveness should see the private economy grow going forward, albeit very slowly," Parikh said.

Pimco expects eurozone growth of about 0.25 percent to 0.75 percent next year.

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