Australia in firing line as IMF cuts global growth forecast

Wednesday, 20 January 2016

The International Monetary Fund (IMF) has released its latest World Economic Outlook (WEO) Update, which has downgraded global economic growth forecasts by 0.2 ppt for both 2016 and 2017, reflecting primarily a weaker pickup in emerging economies than was forecast by it in October.

Prospects for global trade growth have also been downgraded by more than 0.5 ppt for 2016 and 2017, reflecting developments in China as well as distressed economies.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.