The latest forecasts from the IMF
The previous round of forecasts were in April:
- 2020 global growth to 3.5% from 3.6%
- US to 2.6% vs 2.3% prior
- 2020 US growth 1.9% vs 1.9% prior
- Eurozone 1.3% vs 1.3% prior
- 2020 Eurozone raised to 1.6%
- China 6.2% vs 6.3% prior
- 2020 China 6.0% vs 6.1% prior
- Canada 1.5% vs 1.5% prior
- Germany 0.7% vs 0.8% prior
- 2020 Germany to 1.7% vs 1.4% prior
- Italy +0.8% vs +0.1% prior
- Advanced economies 1.7% vs 1.8% prior
- Emerging markets 4.7% vs 4.4% prior
- 2020 emerging markets 4.7% vs 5.0% prior
- World trade volume lowered to 2.5% vs 3.4% prior
- Full report
In April, the IMF lowered its forecasts. Since October, this is the fourth downgrade in global growth and the statement said downside risks have intensified going forward, noting trade.
“The projected growth pickup in 2020 is precarious, presuming stabilization in currently stressed emerging market and developing economies and progress toward resolving trade policy differences,” the report says.
They noted that fixed investment is particularly soft, even in places where growth has surprised to the upside. They note high inventories in the UK and US.
