IMF Predicts Economic Slowdown

economy

CBJ — The International Monetary Fund has cut its forecast for world economic growth in 2019 due to ongoing international trade tensions and rising U.S. interest rates.

The IMF expects global growth this year of 3.5%, down from 3.7% in 2018 and from the 3.7% it had forecast for 2019 back in October.

Unveiling its forecasts at the World Economic Forum in Davos, Switzerland, the fund left its prediction for U.S. growth this year unchanged at 2.5%.

The IMF’s estimate for Canadian growth in 2019 is now 1.9%, down from an even 2% in October.

IMF’s growth outlook for the 19 countries that use the euro currency has been reduced to 1.6% from 1.8%.

@CanBizJournal

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