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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