IMF keeps global economic growth projections steady
The International Monetary Fund (IMF) in its April World Economic Outlook has kept its forecast for global economic growth in 2015 unchanged from January at 3.5%, while it has raised its 2016 forecast by 0.1% to 3.8%. The outlook for the US remains positive, despite some downward revisions for 2015 and 2016, with domestic consumption benefiting from �steady job creation, lower oil prices and improved consumer confidence'. Eurozone GDP forecasts were raised, as higher net exports and lower oil prices supported consumption. Meanwhile, the outlook for China was kept in line with January projections, although at 6.8% for 2015 this remains weaker than the government GDP growth target of 7.0%. Notably, the 2015 estimate for Brazil was cut by 1.3% to -1.0%, with the country exhibiting multiple signs of weakening economic activity.