FOREX TradingCharts.com

Financial News: IMF Says Global Recovery Strengthening, But Incomplete

IMF Says Global Recovery Strengthening, But Incomplete

10/10/2017 - 10:57:00 (RTTNews)

(RTTNews) - The global economic upswing is strengthening and has become broad-based, presenting a window of opportunity for policymakers for reforms, but the recovery is still incomplete and may not last forever, the International Monetary Fund said Tuesday.

In its latest biannual World Economic Outlook, the Washington-based lender raised the global growth forecast for this year to 3.6 percent from 3.5 percent and the outlook for next year to 3.7 percent from 3.6 percent.

In an interim WEO update in July, global growth projections were left unchanged.

These are stronger than the 3.2 percent expansion in 2016, which was the weakest since the global financial crisis, the IMF said.

"Notable pickups in investment, trade, and industrial production, coupled with strengthening business and consumer confidence, are supporting the recovery," the IMF report said.

The breadth of the latest upswing offers a global environment of opportunity for ambitious policies that will support growth and raise economic resilience in the future, Maurice Obstfeld, IMF's economic counselor and research director, said in his blog.

"Policymakers should seize the moment: the recovery is still incomplete in important respects, and the window for action the current cyclical upswing offers will not be open forever," he added.

The IMF expects economic activity to pick up speed in all country groups except for the Middle East, and said the forecasts of the strength of the outlook by region have changed only modestly.

The advance economies' growth forecast for this year was revised up to 2.2 percent, while the projection for 2018 was left unchanged at 2 percent.

The U.S. economy is projected to grow 2.2 percent this year versus 2.1 percent seen in a WEO update in July. Next year, growth is seen edging up to 2.3 percent versus 2.1 percent predicted in July.

In its full WEO in April, the forecasts were 2.3 percent and 2.5 percent, respectively.

"The projection of a continuation of near-term growth that is moderately above potential reflects very supportive financial conditions and strong business and consumer confidence," the IMF said. "Over a longer horizon, US growth is expected to moderate."

Eurozone is forecast to expand 2.1 percent this year, which is faster than the 1.7 percent predicted in April and 1.9 percent seen in July. Next year, the economy is seen growing 1.9 percent versus 1.6 percent forecast in April and 1.7 percent in July.

The stronger outlook was attributed to an acceleration in exports amid a broader pickup in global trade and continued strength in domestic demand growth supported by accommodative financial conditions amid diminished political risk and policy uncertainty.

Among the big four euro area members, growth was seen slowing next year in Germany, Italy and Spain, but accelerate in France.

The UK growth forecasts were downgraded from April, to 1.7 percent for this year and 1.5 percent for 2018. The projections were unchanged from July.

The medium-term growth outlook for the UK is highly uncertain and will depend in part on the new economic relationship with the EU and the extent of the increase in barriers to trade, migration, and cross-border financial activity, the IMF said.

Japan was forecast to grow 1.5 percent this year, but the pace was seen more than halving to 0.7 percent next year. Canada's growth was projected to slow from 3 percent this year to 2.1 percent in 2018.

In the emerging economies group, China's growth was projected to improve slightly to 6.8 percent this year and then ease to 6.5 percent next year.

India's expansion was seen slowing sharply to 6.7 percent this year from 7.1 percent in 2016. However, the pace of growth was forecast to improve to 7.4 percent next year.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Existing Home Sales Unexpectedly Rebound In September (48 sec(s) ago)
(RTTNews) - After reporting U.S. existing home sales at their lowest level in a year in the previo ...Full Story»

Bank Of Italy Estimates Q3 Growth At 0.5% (54 min(s), 48 sec(s) ago)
(RTTNews) - Italy's economic growth improved slightly in the third quarter, led by strong perf ...Full Story»

Bank Of Italy Sees Q3 Growth Of 0.5% (53 min(s), 48 sec(s) ago)
(RTTNews) - Italy's economic growth improved slightly in the third quarter, led by strong perf ...Full Story»

Bank Of Korea Likely To Keep Rates Low For A Prolonged Period (39 min(s), 48 sec(s) ago)
(RTTNews) - The Bank of Korea is likely to keep the policy rate at 1.25 percent not just for the r ...Full Story»

UK Logs Decade Low Budget Deficit For September (09 min(s), 48 sec(s) ago)
(RTTNews) - The UK budget posted the smallest budget deficit in a decade for the month of Septembe ...Full Story»

Italy's Current Account Surplus Rises In August (01 hr(s), 09 min(s), 12 sec(s) ago)
(RTTNews) - Italy's current account surplus increased in August from the previous year, the Ba ...Full Story»

Latvia Producer Price Inflation Unchanged (01 hr(s), 12 min(s), 12 sec(s) ago)
(RTTNews) - Latvia's producer price inflation was unchanged in September, as an acceleration i ...Full Story»

BoJ Chief Says Economy Well Balanced By External, Domestic Demand (01 hr(s), 42 min(s), 12 sec(s) ago)
(RTTNews) - The Japan economy has been well-balanced by both external and domestic demand, Bank of ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Existing Home Sales Unexpectedly Rebound In September

10/20/2017 - 10:21 AM (RTTNews)
(RTTNews) - After reporting U.S. existing home sales at their lowest level in a year in the previo ...Full Story>>

Bank Of Italy Estimates Q3 Growth At 0.5%

10/20/2017 - 10:15 AM (RTTNews)
(RTTNews) - Italy's economic growth improved slightly in the third quarter, led by strong perf ...Full Story>>

Bank Of Italy Sees Q3 Growth Of 0.5%

10/20/2017 - 10:14 AM (RTTNews)
(RTTNews) - Italy's economic growth improved slightly in the third quarter, led by strong perf ...Full Story>>

Bank Of Korea Likely To Keep Rates Low For A Prolonged Period

10/20/2017 - 10:00 AM (RTTNews)
(RTTNews) - The Bank of Korea is likely to keep the policy rate at 1.25 percent not just for the r ...Full Story>>

UK Logs Decade Low Budget Deficit For September

10/20/2017 - 08:30 AM (RTTNews)
(RTTNews) - The UK budget posted the smallest budget deficit in a decade for the month of Septembe ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.