IMF Cuts UK and US Forecasts
Published / Last Updated on 23/07/2017
IMF Cuts UK and US Forecasts.
The International Monetary Fund (IMF) has downgraded its growth forecasts for both the UK and the USA after weaker figures were published for the first three months of 2017.
- The UK Growth forecast has been downgraded to 1.7% growth in 2017 from 2.0%.
- The US Growth forecast has been downgraded to 2.1% growth in 2017 from 2.3%.
The IMF has maintained its forecast of an even greater slowdown in 2018 for both the UK and US. The UK is still forecast to slow to 1.5% pa growth in 2018 and the US at 2.1%pa in 2018 (down from 2.5%pa).
Comment
FTSE has already taken a hit this morning and at the time if writing is down over 1%. Europe is also down whilst China closed up. US markets have not opened yet, but we expect some falls there too.