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The IMF’s October 2019 Global Growth Outlook

Economy

According to the latest World Economic Outlook from the IMF, global economic growth in 2019 is forecast to slow to 3.0%, down from the projection of 3.2% in July. This would be the slowest growth rate since the global financial crisis. The IMF expects an acceleration to 3.4% in 2020.  

The Indian economy experienced one of the largest downgrades, as the country’s growth projection for 2019 fell 0.9 percentage points to 6.1%. Meanwhile, China’s growth forecast slipped a further 0.1 percentage points compared to July to 6.1%.

After experiencing upward revisions for 2019 in July’s outlook, growth for advanced economies was revised down 0.2 percentage points in October’s report to 1.7%, with the same rate of growth projected for 2020.