Economics
IMF Sees U.S. Fading as Global Growth Engine
- Fund lowers forecast for U.K. growth after soft first quarter
- Growth seen picking up in China, Japan, euro zone, Canada
IMF Sees U.S. Fading as Growth Engine
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The world is leaning less on its biggest economy to sustain the global recovery, according to the International Monetary Fund.
The fund left its forecast for global growth unchanged in the latest quarterly update to its World Economic Outlook, released Monday in Kuala Lumpur. The world economy will expand 3.5 percent this year, up from 3.2 percent in 2016, and by 3.6 percent next year, the IMF said. The forecasts for this year and next are unchanged from the fund’s projections in April.