Saturday, 24 February 2024

IMF cuts global growth forecast amid supply chain disruptions

5 min read

12 October 2021 – The IMF has lowered its 2021 growth forecast for the world economy as a result of supply chain disruptions and global health concerns. The group also raised its inflation outlook and warned of the risks of higher prices. The IMF cut its global growth forecast for 2021 to 5.9% from 6% in its July report, a result of a reduction in its projection for advanced economies to 5.2% from 5.6%. Among the leading economies, the growth outlook for the US was reduced 0.1 percentage point to 6% this year, while the projection for China was also down 0.1 percentage point to 8%. The group maintained its view that the global growth will moderate to 4.9% in 2022.

Re-disseminated by The Asian Banker from IMF

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