IMF lowers its global growth forecast to 3.3% - lowest since financial crisis
|The International Monetary Fund (IMF), in its latest projections on Tuesday, lowered 2019 growth forecast to 3.3% from 3.5% - the lowest since the financial crisis and also marked the third downgrade in six months.
Key highlights:
• 2020 unchanged at 3.6%.
• Says risks to the downside based on Brexit and US-China talks.
• Says growth will stabilize in the first half of 2019, sees gradual recovery afterwards.
• Sees global trade volume up 3.4% vs 4.0% in Jan.
• Cuts Euro-zone growth to 1.3% from 1.6%.
• Cuts US to 2.3% from 2.5%.
• Raises 2020 US forecast to 1.9% from 1.8%.
• Raises 2019 China growth forecast to 6.3% from 6.2%.
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