{"id":50639,"date":"2020-01-20T20:52:37","date_gmt":"2020-01-21T01:52:37","guid":{"rendered":"https:\/\/olduvai.ca\/?p=50639"},"modified":"2020-01-20T20:52:40","modified_gmt":"2020-01-21T01:52:40","slug":"imf-slashes-global-gdp-forecast-for-6th-consecutive-time-warns-climate-change-will-hit-economy","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=50639","title":{"rendered":"IMF Slashes Global GDP Forecast For 6th Consecutive Time, Warns “Climate Change” Will Hit Economy"},"content":{"rendered":"\n

IMF Slashes Global GDP Forecast For 6th Consecutive Time, Warns “Climate Change” Will Hit Economy<\/a><\/h3>\n\n\n\n

After the IMF cut its global economic outlook for 2019 to 2.9% in October, the lowest since the financial crisis, and warned that global trade growth would be “close to a standstill”, moments ago the IMF once again downgraded its forecast for global GDP for 2020 and 2021, its sixth straight reduction, although in a sliver of optimism, global GDP in 2020 is now expected to post a modest rebound from 2.9% to 3.3%, (down from 3.4% in October) and to 3.4% in 2021 (down from 3.6%) as the IMF says “there are now tentative signs that global growth may be stabilizing, though at subdued levels.”<\/p>\n\n\n\n

According to the IMF, the downward revision primarily reflects negative surprises to economic activity in a few emerging market economies, most notably India, where 2020 GDP is now expected to rise just 5.8% down from 7.0%, which means that in 2020 China will regain the title of the world’s fastest growing economy<\/strong>. In a few cases, this reassessment also reflects the impact of increased social unrest.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

<\/a>Emerging market debacle aside, the IMF said that on the positive side, market sentiment “has been boosted by tentative signs that manufacturing activity and global trade are bottoming out, a broad-based shift toward accommodative monetary policy, intermittent favorable news on US-China trade negotiations, and diminished fears of a no-deal Brexit, leading to some retreat from the risk-off environment that had set in at the time of the October WEO.”<\/p>\n\n\n\n

However, and this will be of particular interest to traders, even the IMF admitted that “few signs of turning points are yet visible in global macroeconomic data.”<\/strong><\/p>\n\n\n\n

And so, in addition to the collapse in India, the IMF also sees continued slowdown in the US and Europe in 2020, both of which were cut by 0.1% to 2.0% and 1.3%, while China saw a modest increase by 0.2% to 6.0%, which however drops to 5.8% in 2021.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

IMF Slashes Global GDP Forecast For 6th Consecutive Time, Warns “Climate Change” Will Hit Economy After the IMF cut its global economic outlook for 2019 to 2.9% in October, the lowest since the financial crisis, and warned that global trade growth would be “close to a standstill”, moments ago the IMF once again downgraded its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,141,366,418,434,4318],"class_list":["post-50639","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-climate-change","tag-global-economy","tag-imf","tag-international-monetary-fund","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/50639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50639"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/50639\/revisions"}],"predecessor-version":[{"id":50640,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/50639\/revisions\/50640"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}