IMF cuts 2020 world growth forecast to 3.3% from 3.4% previously

The International Monetary Fund (IMF), in the latest update released this Monday, lowered its 2020 global economic growth forecast to 3.3% from 3.4% estimated previously in October. The IMF attributed the slight downward revision to a sharper-than-anticipated slowdown in India.

New projections

• 2021 global growth forecast seen at 3.4% (3.6% previously).
• US 2020 growth forecast seen at 2.0% (2.1% previously).
• China 2020 growth forecast seen at 6.0% (5.8% previously).
• Euro area 2020 growth forecast seen at 1.3% (1.4% previously).
• UK 2020 growth forecast seen at 1.4% (unchanged).
• India 2020 growth forecast seen at 5.8% (7.0% previously).