The quarterly global outlook from the IMF:
- Prior world growth forecast was 3.5%, made in April
- Prior 2016 world growth maintained at 3.8%
- US forecast at 2.5% vs 3.1% in April
- IMF says forecast downgrades reflect weak US Q1, seen as "temporary"
- Sees UK growth at 2.4% vs 2.7% prior
- Sees Japan growth of 0.8% vs 1.0% prior
- Sees 2015 Brazil contraction of 1.5% vs 1.0% prior
- China growth forecast unchanged at 6.8%
- Sees 'much heavier toll' than expected on Greek economy
- Risks to the global economy 'tilted to the downside'
- Eurozone forecast unchanged at 1.5%
- Canada growth seen at 1.5% vs 2.2% in April
- Mexico seen at 3.0% vs 2.4% prior
- Full text
"Disruptive asset price shifts and a further increase in financial market volatility remain an important downside risk," the fund said in the report.
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