Organisation expects the economy to expand 2.3% in 2019, down from 2.5% in January, and warns on trade tensions with China and corporate debts
The IMF on Tuesday cut its US growth forecast significantly for 2019 but said it is still likely to outpace other advanced nations as the world economy slows.
The world’s largest economy is now expected to expand at a 2.3% clip in 2019, down from the 2.5% expected in January, but still relatively strong, according to the report released ahead of this week’s spring meetings of the IMF and World Bank. But the stimulus felt in 2018 from the US tax cuts is fading, while the extended government shutdown also took a bite out of growth in 2019.
“If US growth were to weaken, such financial fragilities could amplify and prolong the slowdown,” the IMF cautioned.
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