The IMF reported that the global growth still slow. This is stated in the updated report of the International Monetary Fund World Economic Outlook.
Since the April World Economic Outlook (WEO) report, the United States further increased tariffs on certain Chinese imports and China retaliated by raising tariffs on a subset of US imports. Additional escalation was averted following the June G20 summit. Global technology supply chains were threatened by the prospect of US sanctions, Brexit-related uncertainty continued, and rising geopolitical tensions roiled energy prices.
“Against this backdrop, global growth is forecast at 3.2 percent in 2019, picking up to 3.5 percent in 2020. GDP releases so far this year, together with generally softening inflation, point to weaker-than-anticipated global activity. Investment and demand for consumer durables have been subdued across advanced and emerging market economies as firms and households continue to hold back on long-range spending,” the IMF explained.
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.
As The Journalist reported, British economy lost more than EUR 100 bln over Brexit.
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