IMF keeps global growth forecasts unchanged at 3.5% for 2017

Dhwani Mehta FXStreet

In its latest World Economic Outlook report for 2017, the International Monetary Fund (IMF) maintained its global growth forecast at 3.5%, while slashed the UK GDP growth outlook, in the wake of Brexit.

Key Points:

Keeps global growth forecasts unchanged at 3.5 pct for 2017, 3.6 pct for 2018

Eurozone growth forecasts increased 0.2 percentage point to 1.9 pct for 2017, 0.1 percentage point to 1.7 pct for 2018

China growth forecasts increased 0.1 percentage point to 6.7 pct for 2017, 0.2 percentage point to 6.4 pct for 2018

US forecasts unchanged from June revisions at 2.1 pct for both 2017 and 2018

IMF says 2017 Japan growth forecast increased 0.1 percentage point to 1.3 pct; 2018 Japan growth forecast unchanged at 0.6 pct

And cuts 2017 UK growth forecast by 0.3 percentage point to 1.7 pct; 2018 UK forecast unchanged at 1.5 pct

"While risks around the global growth forecast appear broadly balanced in the near term, they remain skewed to the downside over the medium term"

Revised down its 2017 forecast for the UK by 0.3 percentage point to 1.7 percent, citing weaker-than-expected activity in the first quarter. It left its 2018 forecast unchanged at 1.5 percent

Canada gets the nod from the IMF as their expected strongest G7 currency in 2017, the Fund expects GDP at 2.5% (1.7% prior)

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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