IMF Slashes Growth Forecasts All Around The World

Christine Lagarde

The IMF has reduced its world growth forecast for 2013 to 3.3% from 3.5%, Bloomberg reports.

Practically no one was safe.

Euro-area outlook was cut to -0.3% contraction.

U.S. growth was slashed to 1.9% this year and 3% in 2014. Both of those forecasts represent declines of 0.2 percentage points in 2013 and no change in 2014, Marketwatch says.

Russia was cut to 3.4% from 3.7%.

UK got slashed to 0.7%. Last year it was at 2%. 

Only Japan and Sub-Saharan Africa saw increases.

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