Cut global growth forecast to 3.1% from 3.2%. 2017 at 3.4% down -0.1% from previous.

The IMF says reduction in outlook due to uncertainty, reduced investment caused by Britain's departure from the European Union.

  • Cuts 2016 UK growth forecast to 1.7% from 1.9% in April. They see 2017 growth at 1.3% from 2.2% in April
  • IMF says would've revised 2017 global growth forecast slightly upward if not for Brexit
  • IMF says Japangrowth forecast cut to 0.3% from 0.5%. Improves 2017 at what to 0.1% from a -0.1% contraction
  • raises China 2016 growth forecasts to 6.6% from 6.5%. Sees 2017 growth slowing to 6.2%
  • Global growth could fall to 2.8% in 2016 and 2017 under its severe alternative scenario of UK – EU divorce negotiations going badly, financial stress intensifying

World economic outlook (% change in GDP YoY)

  • US: 2.2 in 2016 and 2.5% in 2017
  • EU 1.6% in 2016 and 1.4% in 2017
  • Japan 0.3% in 2016 adn 0.1% in 2017
  • UK 1.7 in 2016 and 1.3% in 2017
  • CHina 6.6% in 2016 and 6.2% in 2017