IMF cuts global growth outlook due to US, China slowdowns

Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday to downgrade its outlook for the global economy this year and next, while giving an even starker assessment of what may lie ahead. "The outlook has darkened significantly since April," said IMF chief economist Pierre-Olivier Gourinchas. "The world may soon be teetering on the edge of a global recession, only two years after the last one." "The world's three largest economies, the United States, China and the euro area are stalling with important consequences for the global outlook," he said at a briefing. In its latest World Economic Outlook, the International Monetary Fund cut the...

Keep on reading: IMF cuts global growth outlook due to US, China slowdowns

from INQUIRER.net https://ift.tt/vgTBCKw