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IMF Cuts Outlook for U.S. Growth
The International Monetary Fund has lowered its growth forecast for the U.S. economy to 2.1% through 2018, a pace well below the pace of overall global growth.
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The International Monetary Fund has lowered its growth forecast for the U.S. economy to 2.1% through 2018, a pace well below the pace of overall global growth.
The IMF, a group set up in 1944 to ensure global economic stability, predicts the global economy will expand by 3.5% this year and 3.6% in 2018. Both figures are unchanged from its forecast in April.
The fund previously expected the U.S. to grow 2.3% this year and 2.5% in 2018. But the group says its outlook has turned more cautious because of a weak first quarter, the receding likelihood of fiscal stimulus and an assumption that American fiscal policy will be less expansionary than previously thought.
The IMF anticipates economic growth for the eurozone will climb from 1.8% in 2016 to 1.9% this year, then drop to 1.7% in 2018. China’s economy is expected to expand by 6.7% in 2017 and 6.4% next year. India’s growth rate is forecast at 7.2% this year and 7.7% in 2018.
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