IMF lowers forecast for global growth this year and next, warning that more US-China tariffs, auto tariffs or a disorderly Brexit could further slow growth
IMF cautions there are an abundance of"potential triggers" for the situation to turn negative quickly, including the possibility of more US tariffs on China or on European autos, as well as a no-deal Brexit and the high debt levels in many countries.
In its quarterly update of its World Economic Outlook, the IMF trimmed the global forecast issued in April by 0.1 this year and next, with growth expected to hit 3.2 percent in 2019 and 3.5 percent in 2020."The projected growth pickup in 2020 is precarious" and presumes there will be "stabilisation in currently stressed emerging market and developing economies and progress toward resolving trade policy differences," the IMF said.
"While the tensions abated in June, durable agreements to resolve differences remain subject to possibly protracted and difficult negotiations," the report said.
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