The IMF has lowered its forecast for European economy but maintains its April forecast for global economic growth. It also warns that the risk of disappointment has increased significantly since its April forecast.
"Amid rising tensions over international trade, the broad global expansion that began roughly two years ago has plateaued and become less balanced. In our latest World Economic Outlook Update, we continue to project global growth rates of just about 3.9 percent for both this year and next, but judge that the risk of worse outcomes has increased, even for the near term," says Maurice Obstfeld, chief economist in the IMF, in a written comment on the IMF blog.
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