The International Monetary Fund cut its global GDP forecast to 3.3% and 3.6% for 2012 and 2013 respectively.
Reuters had reported Friday that German newspaper Handelsblatt said the International Monetary Fund would do that. Concurrently, The Telegraph reported that last week the IMF was expected to cut its growth forecast for the United Kingdom.
Watch for more on this, as this seems to driven by IMF views of further GDP decline estimates for Brazil, China, and India. If GDP declines in those countries, can developed country GDP declines be far behind?
Topical References: IMF cuts global growth forecast; prods Europe, U.S., The Asahi Shimbun, from Reuters, October 9, 2012 - reading time 4 minute. Also read:
IMF to lower global growth forecasts: German paper, from Reuters, Sarah Marsh and Stephen Brown, October 5, 2012 - reading time 1 minute.
IMF to cut growth forecast for UK in gloomy global outlook, from The Telegraph, Philip Aldrick, October 5, 2012 - reading time 2 minutes.