IMF Makes Big Cut In U.S. Growth Forecast Down To 2%


The International Monetary Fund just announced it was cutting growth forecasts for both the U.S. and the eurozone

The organisation thinks the US will grow only 2.0% in 2012 in comparison to previous expectations of 2.7% growth.

It expects the eurozone to grow 1.9% instead of 2.0% in 2011 and 1.4% instead of 1.7% in 2012.

The IMF also trimmed global growth from 4.3% to 4.2% this year and from 4.5% to 4.3% next year.

ForexLive reports that these numbers may actually be better than expected, particularly after Standard & Poor’s downgraded the U.S. earlier this month.