IMF Global Growth Outlook Hits Decade Low Of 3% Amid Trade Woes (BNN Bloomberg)

The International Monetary Fund made a fifth-straight cut to its 2019 global growth forecast, citing a broad deceleration across the world’s largest economies as trade tensions undermine the expansion.

The world economy will grow three per cent this year, down from 3.2 per cent seen in July, with the 2020 estimate lowered to 3.4 per cent from 3.5 per cent, the fund said Tuesday in its latest World Economic Outlook. The forecast for this year would be the weakest since 2009, when the world economy shrank, as the fund chopped projections from the U.S. and Europe to China and India.

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