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July 29, 2019

IMF Cuts World Growth Estimates Due To Worries About Trade

The International Monetary Fund (IMF) has further reduced its global growth outlook, which already was at its lowest since the Great Recession. The IMF said the world economy will expand just 3.2 percent this year and 3.5 percent next year.

Both predictions were down 0.1 percentage point from the IMF’s April projections.

The U.S. economy is predicted to expand 2.6 percent this year, a better reading than was given in the IMF’s April estimate.

The IMF also reduced projections for growth in the global volume of trade in goods and services, cutting the estimate to 2.5 percent for 2019 from the previous estimate of 3.4 percent. The organizations also warned, “The projected growth pickup in 2020 is precarious, presuming stabilization in currently stressed emerging market and developing economies and progress toward resolving trade policy differences.”

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