Lagarde Says IMF to Reduce Global Growth Forecast Amid Economic Deterioration
Tweet Send to a Friend
Speaking at a press conference in Tokyo, Japan Friday, IMF Managing Director Christine Lagarde said the Fund will reduce global growth forecasts in a report which will be issued on Monday, July 16th. In April, the IMF showed expectations for 2012 worldwide growth of 3.5 percent. This forecast was revised higher from an initial projection of 3.3 percent in January.
According to a Bloomberg report, Lagarde told reporters, "Over the past few months, the outlook has regrettably become more worrisome. Many indicators of economic activity -- investment, employment, manufacturing -- have deteriorated. And not just in Europe or the United States."
The IMF will likely also reduce estimates for 2013. In the Fund's April report, next year's forecast was revised from 3.9 percent to 4.1 percent.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
According to a Bloomberg report, Lagarde told reporters, "Over the past few months, the outlook has regrettably become more worrisome. Many indicators of economic activity -- investment, employment, manufacturing -- have deteriorated. And not just in Europe or the United States."
The IMF will likely also reduce estimates for 2013. In the Fund's April report, next year's forecast was revised from 3.9 percent to 4.1 percent.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Crash in American Electric Power (AEP) & NextEra Energy (NEE) Adds to Jitters
- Bulls and Bears Do Battle in Aeropostale (ARO); Turnaround Intact?
- Like Microsoft (MSFT) Xbox 360 Games? Don't Buy an Xbox One...
Create E-mail Alert Related Categories
Economic Data, Insiders' Blog
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
