The International Monetary Fund (IMF), in the latest update released this Monday, lowered its 2020 global economic growth forecast to 3.3% from 3.4% estimated previously in October. The IMF attributed the slight downward revision to a sharper-than-anticipated slowdown in India.
New projections
- 2021 global growth forecast seen at 3.4% (3.6% previously).
- US 2020 growth forecast seen at 2.0% (2.1% previously).
- China 2020 growth forecast seen at 6.0% (5.8% previously).
- Euro area 2020 growth forecast seen at 1.3% (1.4% previously).
- UK 2020 growth forecast seen at 1.4% (unchanged).
- India 2020 growth forecast seen at 5.8% (7.0% previously).
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