Again, the International Monetary Fund (IMF) cuts its economic growth forecast for the global economy in 2019 and the coming year. The Funds sees the global economy only grow 3.2% in 2019, lower than April’ estimate at 3.3%.
Next year’ growth little bit up to 3.5%, although that is below the previous estimate of 3.6%. IMF’ Chief Economist Gita Gopinath noted, “A modest revision of 0.1 percentage points for both years relative to our projections in April, it comes on top of previous significant downward revisions.”
The revision for 2019 reflects negative surprises for growth in emerging market and developing economies that offset positive surprises in some advanced economies, she adds.
“The revision to 2019 reflects a negative surprise for growth in emerging markets and developing economies that offset positive surprises in some developed countries,” she said in an official statement released on July 23.
