IMF lowers forecasts over trade battles

Published on Oct 16, 2019
The International Monetary Fund says trade battles have put the global economy in a precarious position. On October 15, the organization revealed that it had lowered its global growth forecast for 2019 to three percent, down 0.2 percentage points from its July estimation. The IMF noted that it was the slowest pace since the global financial crisis. The IMF also revised down its global growth projection for 2020 to 3.4 percent, 0.1 percentage points lower from its July estimate. Meanwhile, the IMF expects U.S. economic output to fall half a percent next year, while China’s drops two percent.

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