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IMF lowers US growth forecasts for 2015

by ChemOrbis Editorial Team -
  • 05/06/2015 (12:28)
According to media reports, the International Monetary Fund (IMF) lowered its economic growth forecast for the US economy for 2015, citing the contraction in the first quarter as the reason for their lower growth expectations. According to the IMF, the US economy will grow by 2.5% this year, down from its previous estimate of 3.1% in April.

In the first quarter of this year, the US economy contracted 0.7% due to a widening trade deficit, smaller inventories and a stronger dollar. Heavy winter conditions reportedly also hampered consumer spending.

The IMF also stated that the central bank of the United States, the Federal Reserve Bank (FED), should wait until the first half of 2016 before raising interest rates as inflation is still too low and there are significant uncertainties surrounding future economic growth.
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