The International Monetary Fund on Tuesday downgraded its forecast for the U.S. economy and warned that “persistent stagnation” here and abroad could add more fuel to a populist backlash against trade and immigration that would further stifle growth.
In its quarterly World Economic Outlook, the IMF significantly cut its estimate for U.S. growth this year, to 1.6% from a July estimate of 2.2%.
The global economy will expand 3.1% this year, it said — the same as forecast in July.
The IMF described worldwide growth as “subpar,” with a slowdown in the U.S. and other advanced economies being offset by slightly stronger output in developing and emerging nations.
Source: http://www.latimes.com/business/la-fi-imf-world-economy-20161004-snap-story.html
