Fallen playboy's £4m humbling: Petra Ecclestone's ex-husband James Stunt sees his Belgravia home put on the... A (wet) farewell to the Queen of the Skies: Last two British Airways Boeing 747s depart Heathrow to be... Boris Johnson made the muscles in Keir Starmer's neck tighten like cheesewire: HENRY DEEDES sees the Prime... Covid Big Brother! This is down 0.1 and 0.2 percentage points respectively from its last forecast in October. President Donald Trump's administration had been widely expected to pursue policies including tax cuts and infrastructure investment to try to boost the US economy. The International Monetary Fund has cut its growth forecast for the UK economy this year after a weak performance in the first three months of 2017.
In its latest World Economic Outlook, the IMF said the "pick-up in global growth" that it had anticipated in its previous survey in April remained "on track". Both candidates had strong moments, and a few stumbles - but will debate shake up the presidential race?
Spain is now forecast to grow 3.1% this year, up from the previous prediction of 2.6%. The report doesn't say. The IMF also revised down its US growth forecast from 2.3% to 2.1%. The UK’s growth forecasts have been cut from 2.7% to 2.4% in 2015 and from 2.3% to 2.2% in 2016. A UK Treasury spokesperson said the IMF forecast underlined why the government's plans to increase productivity and get "the very best deal with the EU" after Brexit were "vitally important".
"Employment is at a record high and the deficit is down by three quarters, showing that the fundamentals of our economy are strong," they added. "The IMF, a multi-lateral institution, takes a step back and looks at a broad range of activities across the world, but they do sometimes get things wrong and we wouldn't want to put too much emphasis on what's been released today," said Lucy O'Carroll, chief economist of Aberdeen Asset Management. Global growth will be 3.3pc this year and 3.4pc in 2021, the IMF said. Kate Garraway SLAMS Donald Trump's 'strange' claim that his bout of Covid was a 'blessing from God' and... JENNI MURRAY: Treating the elderly in care as disposable is criminal. 'In the United Kingdom, growth is expected to stabilise at 1.4 percent in 2020 and firm up to 1.5 percent in 2021 - unchanged from the October WEO,' the IMF said. The IMF's outlook for several eurozone economies was brighter than initially thought, with countries including France, Germany, Italy and Spain seeing growth forecasts revised up.
In October 2016, it pencilled in growth of 1.1% for 2017, raising this forecast to 1.5% in January this year and to 2% in April. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. The IMF said first-quarter growth in many of those countries was better than expected, and that there was evidence of "stronger momentum in domestic demand than previously anticipated".
"Our projections for long-term British growth are actually based on a pretty optimistic assessment of how the negotiations are likely to turn out, so if things are worse than that it will turn out to be correspondingly worse for the British economy.".
The downgrade in the UK's forecast reflects the weak start to the year. The IMF left its growth forecast for the UK in 2018 unchanged at 1.5% but said one key risk facing the global economy was that the Brexit talks would end in failure. It contrasted its gloomier outlook for the UK with a rosier forecast for the rest of the EU, with 2017 growth upgrades for the four biggest eurozone countries – Germany, France, Italy and Spain. The economy grew by 0.2% in the first three months.
That could jeopardise the growth projected by the IMF.
However, the chances of the administration being able to push through these policies now appears less likely. Prime Minister comes under pressure to water down... Is YOUR business ready?
Maurice Obstfeld, the IMF’s economic counsellor, pointed to a marked change in early 2017. The BBC is not responsible for the content of external Internet sites. Media playback is unsupported on your device, The IMF's forecast for UK growth in 2018 is unchanged, The eurozone is seeing "stronger momentum", the IMF said, IMF: 'Brexit will be a negative to economy', Judge me on four things, said Trump. Boris Johnson could BLOCK Jeremy Corbyn's plot to make... HS2 costs will soar to £106 BILLION, warns official review:... Boris's Red Wall revolt: Northerners rage at 'dictator' PM for using them as a 'petri dish for... Devastated families who bought £180,000 homes on new-build estate in Bradford claim they are effectively... Dyslexia can be a blessing and teachers should stop treating it as a disability, says charity in Keira... Blackjack gambler who won £1.7m with Betfred but never received a penny after firm blamed software glitch... Tesco defends paying £315MILLION dividend to shareholders - despite getting business rates break worth £249m.
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