Posted by: youngragingbull | April 17, 2013

IMF cuts world growth forecast

The International Monetary Fund lowered its estimate of global economic growth for 2013 on Tuesday.

The IMF now says the world’s economy will expand by 3.3% this year. That’s less than the 3.5% pace of growth that the IMF expected previously, but a bit higher than the 3.2% growth seen in 2012.

The IMF expects the U.S. economy to expand 1.9% this year. That’s below its January estimate of 2.1% and last year’s U.S. growth of 2.2%. Still, the IMF says the U.S. economy should expand 3% in 2014.

As for Canada’s economy, the IMF expects it will likely slow to about 1.5% this year from 1.8% last year, before picking up to 2.4% in 2014.

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