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In its latest World Economic Outlook released yesterday, the IMF took investors somewhat by surprise. The institution once again downgraded its global growth forecasts.
The downgrades come despite positive developments in the US/China trade space as well as with Brexit negotiations.
Disappointingly, the IMF wrote in the release that there are “no clear signs of a turning point” for the global economy despite these recent developments.
Global Growth Revised Lower
Global growth is now forecast to have printed 2.9% in 2019. This is down from the prior 3% forecast at the last update.
This means that expectations are now for growth to print its worst annual figure since the global financial crisis.
For 2020, forecasts indicate that global growth will rebound to 3.3%. But, this is below the 3.4% figure given at the last update.
Gita Gopinath, the IMF chief’s economist said:
“The projected recovery for global growth remains uncertain. It continues to rely on recoveries in ...
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