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IMF downgrades growth outlook

The International Monetary Fund (IMF) has made several revisions to its global GDP growth forecasts in its twice-yearly World Economic Outlook.

This story earlier appeared with figures for the difference between January and current GDP growth forecasts in place of January predictions. We apologise for this error, which has now been corrected.

The International Monetary Fund (IMF) has made several revisions to its global GDP growth forecasts in its twice-yearly World Economic Outlook.

Its estimate for the GDP growth of the advanced economies has fallen from its projection of a negative 2% made in January, to its current forecast of a negative 3.8%.

The biggest GDP declines were forecast for Japan – down from a negative 2.6% to a negative 6.2%, Britain (down from -2.8% to -4.1%), and Germany (down from -2.5% to -5.6%).

The IMF forecasts Chinas GDP growth for this year at 6.5%. At the start of the year it projected it would grow by 6.7%.

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