IMF's global growth outlooks were trimmed
IMF's global growth outlooks were trimmed due to the negative effects of trade tensions, with 2019 notched down to 3.0% from 3.2% in its prior forecast in July, while the 2020 projection was cut to 3.4% from 3.5% previously. This year's estimate is the slowest since 2009. The projection was as high as 3.9%, made in mid-2018. The Fund sees some support from easier postures from many global central banks, while demand could be boosted as well by easing in U.S.-China trade and if a no-deal Brexit is averted. U.S. growth prospects for 2019 were cut to 2.4% from 2.6% previously, though 2020 was raised to 2.1% from 1.9%. Euro-area growth was lowered to 1.2% for 2019 from 1.3%, and to 1.4% from 1.6% for 2020. The UK was cut by 0.1% to 1.2% this year but left unchanged at 1.4% for 2020. Growth in China was also trimmed by 0.1% for this year to 6.1%, and by 0.2% for 2020 to 5.8%. Also, Japan is seen at 0.9%, unchanged for this year, and 0.5% in 2020, up from 0.4%.