IMF cuts global growth forecast to 3.2%

The International Monetary Fund (IMF) downgraded its 2016 global growth forecast from 3.4% to 3.2% on Tuesday, as it warned about the risk of creeping stagnation.
The International Monetary Fund (IMF) downgraded its 2016 global growth forecast from 3.4% to 3.2% on Tuesday, as it warned about the risk of creeping stagnation.

In its latest World Economic Outlook, the IMF said the forecast cut – its fourth in the past year – was a result of the continued slowdown and rebalancing in China, a further drop in commodity prices, as well as a general weakening in investment and trade.

Non-economic factors, such as ongoing geopolitical tensions and political instability were also contributing factors in what it called a “subdued outlook for the world economy”.

Read more here…

Economy, General