the republic logo

IMF cuts global growth forecast because of slowdowns in US, Russia and emerging markets

bug
Share/Save/Bookmark

WASHINGTON — The International Monetary Fund foresees the global economy expanding less than it had previously forecast, slowed by weaker growth in the United States, Russia and developing economies.

The lending organization says global growth will be 3.4 percent in 2014, below its April forecast of 3.7 percent.

The downgrade reflects much slower expansion in the United States. The IMF now expects just 1.7 percent U.S. growth in 2014, the weakest since the recession ended five years ago. That's down from its April prediction of 2.8 percent, mostly because the U.S. economy shrank at a steep annual rate of 2.9 percent in the January-March quarter.

The IMF also slashed its outlook for Russia's growth to just 0.2 percent this year. Russia's conflict with Ukraine has caused a sharp drop in foreign investment.

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.