IMF cuts global growth forecasts on China’s slowest GDP growth
The IMF kept its growth estimates unchanged for China at 6.3% for 2016 and at 6.0% for 2017, while revising its projections for US economic growth downward to 2.6% for both 2016 and 2017, down 0.2% from its October forecast. However, for the eurozone economy, the fund expects to see a growth rate of 1.7% in both 2016 and 2017, up 0.1% from earlier forecasts.
Meanwhile, the fund thinks that the Brazilian economy will continue to experience an economic slowdown in 2016 and that Brazil’s output will contract 3.5% in 2016 before stabilizing in 2017.
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