IMF cuts its global growth forecast for 2019 to 3.0% from 3.2% in July

Market news

15 October 2019

IMF cuts its global growth forecast for 2019 to 3.0% from 3.2% in July

This marks the lowest growth estimate since the 2008/09 global financial crisis
Lowers 2020 growth forecast to 3.4% from 3.5%
Cuts 2019 U.S. growth forecast to 2.4% from 2.6%
Increases 2020 U.S. growth forecast to 2.1% from 1.9%
Cuts 2019 China growth forecast to 6.1% from 6.2%
Cuts 2020 China growth forecast to 5.8% from 6.0%
Estimates U.S.-China trade tensions will cumulatively reduce global growth by 0.8% by 2020
Says risks skewed to the downside due to uncertainty over trade tensions, Brexit, declines in risk appetite and manufacturing weakness

U.S. Stocks open: Dow +0.54%, Nasdaq +0.36%, S&P +0.44%

Before the bell: S&P futures +0.28%, NASDAQ futures +0.22%

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