The International Monetary Fund (IMF) has cut its forecast for global growth this year, because of a slowdown in the US economy.
The IMF has adjusted its forecast in the global economy growth to 3.3% in 2015, it had previously forecast a growth of 3.5%
This adjustment comes shortly after last months correction whereby the IMF lowered is forecast for US growth to 2.5% in 2015 from an earlier estimate of 3.1%.
The US economy contracted at an annual rate of 0.2% in the first quarter of the year after being hit by bad weather. The US is a drag on the world economy, according to the IMF, because of « an unexpected output contraction ».
Perhaps rather surprisingly the IMF has not revised its Eurozone growth forecast which remains unchanged at 1.5%. The Greek crisis was only having a “ marginal effect “ on the global economy according to the IMF…
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