IMF updates its World Economic Outlook (WEO): Trims 2014 and 2015 globle growth forecasts; says Economic growth may never return to pre-crisis levels
- Cuts 2014 Global GDP growth outlook from 3.4% to 3.3%
- Cuts 2015 Global GDP growth outlook from 4.0% to 3.8%
2014 Growth Outlook
- Raises US 2014 GDP from 1.7% to 2.2%
- Cuts German 2014 GDP growth from 1.9% to 1.4%
- Cuts France 2014 GDP growth from 0.7% to 0.4%
- Maintains UK 2014 GDP growth at 3.2%
- Cuts Japan 2014 GDP growth from 1.6%.to 0.9%
- Maintains China 2014 GDP growth at 7.4% (**Note: China official 7.5% forecast)
- Maintains Russia 2014 GDP 0.2% 2015 Growth Outlook
- Maintains US 2015 GDP at 3.0%
- Cuts German 2015 GDP growth from 1.7% to 1.5%
- Cuts France 2015 GDP growth from 1.4% to 1.0%
- Maintains UK 2015 GDP growth at 2.7%
- Cuts Japan 2015 GDP growth from 1.1%.to 0.8%
- Maintains China 2015 GDP growth at 7.1%
- Cuts Russia 2015 GDP from 1.0% to 0.5%
Comments:
- Economic growth may never return to pre-crisis levels
- warns of eurozone stagnation