Global economy ‘far’ from recession, IMF official says

Global economy ‘far’ from recession, IMF official says

WASHINGTON (Reuters) – Trade tensions are weighing on growth across the world, but the International Monetary Fund is “far” from forecasting a global recession, an IMF official told Reuters on Friday, as the fund prepares to release a new economic outlook next month.

The IMF on Thursday said tariffs imposed or threatened by the United States and China could shave 0.8% off global economic output in 2020 and trigger losses in future years.

“The trade tensions are weighing on growth. But we really don’t see recession in the current baseline. I think we’re far from that,” said the IMF official, who is familiar with the preparation of the outlook.

“While manufacturing activity has been weak, we also see resilience in the services sector and consumer confidence is holding up. The question is how long that resilience can last, and we are monitoring carefully all indicators,” said the official, who was not authorized to speak publicly.

The fund issues an economic outlook twice a year to coincide with its spring and fall meetings, forecasting global gross domestic product for the current year and the following year.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source : Reuters Link

Follow 3-www.NET
Follow
e-News.US
  
Share
e-News.Us



Category Latest Posts