Uncertainty for the Global economy
Oct 9, 2012 / 9:12 am
Plagued by uncertainty and fresh setbacks, the world economy has weakened further and will grow more slowly over the next year, the International Monetary Fund says in its latest forecast.
Advanced economies are risking recession while the economic malaise is spreading to more dynamic emerging economies such as China, the international lending organization says in a quarterly update of its World Economic Outlook.
The IMF forecasts that the world economy will expand 3.3 per cent this year, down from its estimate of 3.5 per cent growth issued in July. Its forecast for growth in 2013 is 3.6 per cent, down from 3.9 per cent three months ago and 4.1 per cent in April.
For the United States, the IMF raised its growth forecast slightly, to 2.2 per cent this year from two per cent in July.
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