IMF trims world, U.S. growth forecasts
IMF trims world, U.S. growth forecasts ((by Steve Goldstein)
WASHINGTON (MarketWatch) -- The International Monetary Fund on Monday trimmed its world economic outlook by 0.1 percentage point this year and by 0.2 percentage points next year, forecasting 3.5% growth in 2012 and 3.9% growth in 2013. The prior forecast was made in April. "In the past three months, the global recovery, which was not strong to start with, has shown signs of further weakness," the IMF said. The IMF now sees U.S. growth of 2% in 2012 and 2.3% in 2013, a reduction of 0.1 points both years. It aggressively cut its forecast in the U.K. by 0.6 points both years. Of other notable moves, it cut its Brazil forecast by 0.6 point this year but upped its 2013 view in that country by 0.5 point.