IMF: World growth `mediocre
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Washington (dpa) - The International Monetary Fund trimmed its global growth forecast by 0.1 per centage points to 3.3 per cent for 2014 and 0.2 points to 3.8 per cent next year, according to Tuesday's quarterly update of its World Economic Outlook.
"World growth is mediocre and a bit worse than forecast in July," IMF chief economist Olivier Blanchard said.
Fizzling economic recoveries in Japan and the eurozone accounted for much of the 2014 reduction.
Since July, the Washington-based crisis lender has lowered its 2014expectations for Japan by 0.7 points to 0.9-per-cent growth, and the eurozone by 0.3 points to 0.8-per-cent growth.
Germany and France - the eurozone's largest economies – booked significant reductions in growth for this year and 2015, under the IMF projections. Italy, the currency area's third-largest economy, is now facing a small 2014 contraction, according to the new forecast.
