The IMF’s six-monthly World Economic Outlook was released overnight and it was not good news.
Global growth for the year ahead was downgraded to 3.3% from an expected 3.7% earlier this year. But it was the outlook for 5 years of slow growth which has been partly responsible for the poor sentiment on global stock markets overnight.
The IMF also had a somewhat jaundiced view of the Australian outlook and said that the unemployment rate in Australia was going to persist and be sticky above 6%.
Here’s a great infographic which tells you all you need to know.