IMF Revises Global Growth Lower
The IMF has revised GDP growth lower, but if a US-EU trade war starts, then they will revise GDP growth lower again
•
Last updated: Monday, January 20, 2020
The global economy has been weakening considerably in the last couple of years, especially the major countries, most likely due to the US-China trade war. But, the monetary tightening of the previous few years has also had an impact on the economic weakness and IMF is now revising GDP growth lower.
- 2019 global GDP growth now seen at 2.9% from 3.0% previously
- 2020 global GDP growth unchanged at 3.3%
- 2021 global GDP growth now at 3.4% from 3.6%
- 2020 Eurozone GDP seen at 1.3% vs 1.4% in October due to manufacturing contraction in Germany
- Boosts China 2020 GDP to 6.0% from 5.8% on trade deal
- Cuts 2020 US GDP to 2.0% from 2.1%
- UK forecast unchanged at 1.4%
Last year was revised a tick lower to 2.9%, while 2020 remains unchanged at 3.3%. But, 2021 is revised two points lower to 3.4% from 3.6% in October. Eurozone growth is revised a tick lower as well, due to the cramp in manufacturing. Although, if Donald Trump starts a trade war with the EU this year, things will go from bad to worse I assume, which will force the IMF top revise growth lower again during the year.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
ABOUT THE AUTHOR
See More
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles
Sidebar rates
HFM
Related Posts
Doo Prime
XM
Best Forex Brokers
