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
Skerdian Meta•Monday, January 20, 2020•1 min read
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.
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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.
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