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IMF Predicts Slower Economic Growth for 2019

By Zhang Qi and Ren Qiuyu / Oct 16, 2019 01:24 PM / Economy

Photo: VCG

Photo: VCG

The International Monetary Fund (IMF) revised down its projections for both Chinese and global economic growth for the second time this year in the latest installment of its World Economic Outlook report, which was published Tuesday.

The report predicts that global growth will slow to 3% in 2019, down 0.3 percentage points from the Fund’s April projection. Meanwhile, China’s annual economic growth will fall 0.2 percentage points from April to 6.1%, the report says.

The increasingly pessimistic outlook for global growth reflects slowing industrial output, the trade and technology tensions between the U.S. and China, and slowing demand in China, the report said. The January version of the report anticipated 3.5% global growth, which was revised down to 3.3% in April and down further to 3.2% in July.

The IMF projected that China’s 2019 economic growth would be 6.2% in January, 6.3% in April, and 6.2% in July.

Contact reporter Ren Qiuyu (qiuyuren@caixin.com)

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