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IMF Lowers Global Growth Forecast Again
The International Monetary Fund predicts the global economy will expand by 3.5% this year, down from last year’s 3.7% and the 3.7% the predicted in October.
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The International Monetary Fund predicts the global economy will expand by 3.5% this year, down from last year’s 3.7%. In October, the fund predicted 3.7% growth for this year.
The IMF attributes its lower outlook to the impact of trade tensions and rising interest rates. The more cautious forecast mirrors similar predictions by the World Bank and the Organization for Economic Cooperation and Development.
The fund predicts the world’s two largest national economies, the U.S. and China, will grow by 2.5% and 6.2%, respectively, this year. The eurozone’s gross domestic product is expected to expand by about 1.7% in 2019.
The IMF estimates the U.K.’s economy will gain about 1.5% this year and in 2020. But it cautions that uncertainties about Brexit cloud the forecast.
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