Business Maverick: IMF Cuts Global Growth Forecast Again as ‘Missteps’ Fuel Concern

The world economy will expand 3.2% this year and 3.5% next year, both down 0.1 percentage point from April projections, the fund said in its latest quarterly World Economic Outlook released Tuesday in Washington. A rate of 3.3% or lower would be the weakest since 2009. The IMF also slashed expectations for growth in the global volume of trade in goods and services, reducing its estimate by 0.9 point to 2.5% in 2019.

The warnings about the brittle state of the world economy follow weaker readings on China’s growth and come just before U.S. GDP data due this week, which are forecast to show growth cooled in the second quarter. “The principal risk factor to the global economy is that adverse developments — including further U.S.-China tariffs, U.S. auto tariffs, or a no-deal Brexit — sap confidence, weaken investment, dislocate global supply chains, and severely slow global growth below the baseline,” the IMF said.The IMF cut China growth estimates to 6.2% this year and 6% next year, both down 0.1 percentage point. Second-quarter GDP data released last week showed a deceleration to 6.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Tuesday, 23 July: Five Things You Need to Know to Start Your DayIran ratcheted up tensions by revealing plans to execute spies it says were CIA-trained. Donald Trump hopes Xi Jinping will do the right thing in Hong Kong. And Huawei’s fortunes may be about to change. Here are some of the things people in markets are talking about today.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Ten months and counting, VBS looters are still at largeNo one is willing to take the blame for the looting of almost R2-billion of depositor funds from municipalities, stokvels and the elderly in Limpopo. Not even the Public Investment Corporation, which sank R458-million belonging to public servants into VBS Mutual Bank. They are not at large they are living large. They’re not at large they sitting in parliament. Vbs VBS vbs 🐘
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Wednesday, July 24: Five Things You Need to Know to Start Your DayTrade talks between China and the U.S. are back on. And Beijing would like Washington to keep its mitts off of Hong Kong. Here are some of the things people in markets are talking about today.
Source: dailymaverick - 🏆 3. / 84 Read more »