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#IMF cuts global growth outlook amid US, #China slowdowns
//Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday [July 26, 2022] to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse...
"The outlook has darkened significantly since April," said IMF chief economist Pierre-Olivier Gourinchas. "The world may soon be teetering on the edge of a global recession, only two years after the last one."
"The world's three largest economies, the United States, China and the euro area are stalling with important consequences for the global outlook," he said at a briefing.
...China's economy is expected to slow dramatically in 2022, expanding just 3.3 percent -- the lowest in more than four decades other than the 2020 pandemic crisis -- due to Covid concerns and the "worsening crisis" in the property sector, the report said.
"The slowdown in China has global consequences: lockdowns added to global supply chain disruptions and the decline in domestic spending are reducing demand for goods and services from China's trade partners," the report said.//
Read more:
https://www.france24.com/en/live-news/20220726-imf-cuts-global-growth-outlook-amid-us-china-slowdowns
Source: France 24 #Jul26
#Economy #Pandemic #Covid19
//Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday [July 26, 2022] to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse...
"The outlook has darkened significantly since April," said IMF chief economist Pierre-Olivier Gourinchas. "The world may soon be teetering on the edge of a global recession, only two years after the last one."
"The world's three largest economies, the United States, China and the euro area are stalling with important consequences for the global outlook," he said at a briefing.
...China's economy is expected to slow dramatically in 2022, expanding just 3.3 percent -- the lowest in more than four decades other than the 2020 pandemic crisis -- due to Covid concerns and the "worsening crisis" in the property sector, the report said.
"The slowdown in China has global consequences: lockdowns added to global supply chain disruptions and the decline in domestic spending are reducing demand for goods and services from China's trade partners," the report said.//
Read more:
https://www.france24.com/en/live-news/20220726-imf-cuts-global-growth-outlook-amid-us-china-slowdowns
Source: France 24 #Jul26
#Economy #Pandemic #Covid19
France 24
IMF cuts global growth outlook amid US, China slowdowns
Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday to downgrade its outlook for the global economy this year and next, while warning that the situation could…