Every year the International Monetary Fund (IMF) releases a report on its outlook for worldwide economic growth. The IMF is an international organization consisting of 189 countries working to foster global financial cooperation. In its most recent report released in October, the IMF noted that the global economy is in a synchronized slowdown with a projected growth rate of 3.4% worldwide in 2020. The subdued projections are a consequence of rising trade barriers, uncertainty surrounding trade and geopolitics, low productivity rates, and strain in the emerging market economies.
The IMF is estimating a 3% growth rate for the global economy in 2019, a drop from 3.6% in 2018. Among those countries expected to see a decline in growth are China, Japan and the United States. China’s forecast is primarily due to trade tensions and a drop in exports. India continues to grow at a favorable rate among both the emerging and developed economies. Its projection of a 7% growth rate for 2020 is greater than all other major emerging and developed economies.
Source: International Monetary Fund
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