Despite lower oil prices and an improving U.S. economy, global economic growth remains gloomy, the International Monetary Foundation (IMF) announced Tuesday.
In its World Economic Outlook Update, the IMF lowered global growth for 2015 to 3.5 percent, down 0.3 percent from the growth rate it predicted in the October 2014 World Economic Outlook. The October 2014 prediction was also a downgrade from an earlier prediction—of 4 percent growth.
Overall, the global economy will “rise moderately,” to 3.7 percent growth, in 2016. Both 2015 and 2016 have been revised down by 0.3 percent.
In October, crises such as the Ebola outbreak in West …read more
Source: Newsweek
