Another Gloomy Economic Outlook From The IMF

The global lender last month cut its global growth forecast for 2023 to 2.7 per cent from a previous forecast of 2.9 per cent. PHOTO: REUTERS

Reuters: IMF says global economic outlook getting 'gloomier', risks abound  

WASHINGTON – The global economic outlook is even gloomier than projected in October, the International Monetary Fund (IMF) said on Sunday, citing a steady worsening in purchasing manager surveys in recent months. 

It blamed the darker outlook on tightening monetary policy triggered by persistently high and broad-based inflation, weak growth momentum in China, and ongoing supply disruptions and food insecurity caused by Russia’s invasion of Ukraine. 

The global lender in October cut its global growth forecast for 2023 to 2.7 per cent from a previous forecast of 2.9 per cent.

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WNU Editor: Europe is heading into a recession (the UK is already in recession), and the slowdown in China are the reasons why the IMF has lowered its economic forecasts again.