IMF raises global growth forecasts
- Sees 3.6% global growth in 2017 vs 3.5% in July estimates
- Sees 3.7% growth in 2018 vs 3.6% in July estimates
Christine Lagarde last week said the forecasts would be raised. You have expect that markets thought it would be more than a 0.1 pp bump. That said, I don't think markets care to much about IMF forecasts.
Other highlights:
- Sees US growth at 2.2% vs 2.1% prior
- Sees 2018 US growth at 2.3% vs 2.1% prior
- China growth seen at 6.8% this year vs 6.7% prior
- 2018 China growth at 6.5% vs 6.4% prior
- Eurozone to 2.1% from 1.9%
- 2018 Eurozone 1.9% vs 1.7% prior
- Japan to 1.5% this year from 1.3% prior
- 2018 Japan to 0.7% from 0.6%
There is also this ominous warning:
"A closer look suggests that the global recovery may not be sustainable -- not all countries are participating, inflation often remains below target with weak wage growth, and the medium-term outlook still disappoints in many parts of the world," IMF chief economist Maurice Obstfeld says in report.
