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Global Economic Growth at 10-Year Low
The world’s economy is expanding at its slowest pace since the Great Recession a decade ago, the International Monetary Fund says.
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The world’s economy is expanding at its slowest pace since the Great Recession a decade ago, the International Monetary Fund says.
The fund predicts global growth this year of 3%, down from 3.2% estimated in July. Growth among mature economies is expected to shrink from 2.3% in 2018 to 1.7% this year.
IMF describes the global outlook as “precarious” and warns that an overall growth of 3% leaves “no room for policy mistakes.” The fund says the need to de-escalate trade and geopolitical tensions is urgent and will require action from national leaders.
Central banks, the fund says, have limited ability to offset the impact of trade wars or a “hard” Brexit, which it refers to a “policy mistakes.”
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