IMF sees sluggish recovery for global economy continuing in 2016
- 8 years ago
The International Monetary Fund said Tuesday that the global economic recovery would remain modest and uneven as the world grappled with slowing GDP in China, suppressed oil prices and tightening monetary policy from the U.S. Federal Reserve.
Overall, the IMF nevertheless projected a 3.1% global growth rate for 2015.
It said GDP would hit 3.4% in 2016 and 3.6% in 2017.
The IMF described overall economic activity in the U.S. as robust, boosted by a strengthening housing and labor market, but due to the dollar's strength U.S. manufacturing could shrink slightly.
However, the IMF said China's growth rate would decline further from what it saw in 2015.
It said China's economy would grow 6.3% in 2016.
Beijing said Tuesday growth in 2015 hit 6.9%.
Overall, the IMF nevertheless projected a 3.1% global growth rate for 2015.
It said GDP would hit 3.4% in 2016 and 3.6% in 2017.
The IMF described overall economic activity in the U.S. as robust, boosted by a strengthening housing and labor market, but due to the dollar's strength U.S. manufacturing could shrink slightly.
However, the IMF said China's growth rate would decline further from what it saw in 2015.
It said China's economy would grow 6.3% in 2016.
Beijing said Tuesday growth in 2015 hit 6.9%.