IMF Downgrades Growth Outlook Again
October 9, 2013
The International Monetary Fund updates growth forecasts in January, April, July and October. The table below documents the evolution of projected real GDP growth in 2013 and 2014 across a spectrum of nations. Estimates released today call for global growth of 2.9% in 2013, down forecasts of 3.2% made in July, 3.3% predicted last April and 3.5% made nine months ago. For calendar year 2014, IMF officials now expect world GDP to rise 3.6%, down from earlier forecasts of 3.8% in July and 4.0% predicted back in January and April. A downgraded view of emerging markets accounts for all of the revision between the forecast made now and that made three months ago. For emerging and developing economies, GDP is expected to advance 4.5% this year, revised from a July forecast of 5.0%, followed by 5.1% in 2014, downgraded from 5.5% predicted three months ago. Advanced economies are collectively expected to grow 1.2% this year followed by 2.0% in 2014. These estimates match those made in July.
| 2013 | January | April | July | October |
| U.S. | 2.1% | 1.9% | 1.7% | 1.6% |
| Euroland | -0.1% | -0.3% | -0.5% | -0.4% |
| Japan | 1.2% | 1.6% | 2.1% | 2.0% |
| Britain | 1.0% | 0.7% | 0.9% | 1.4% |
| Canada | 1.8% | 1.5% | 1.7% | 1.6% |
| China | 8.1% | 8.0% | 7.8% | 7.6% |
| India | 5.9% | 5.7% | 5.6% | 3.8% |
| Brazil | 3.5% | 3.0% | 2.5% | 2.5% |
| Mexico | 3.4% | 3.4% | 2.9% | 1.2% |
| 2014 | January | April | July | October |
| U.S. | 3.1% | 3.0% | 2.8% | 2.6% |
| Euroland | 1.1% | 1.1% | 1.0% | 1.0% |
| Japan | 0.7% | 1.4% | 1.1% | 1.2% |
| Britain | 1.8% | 1.5% | 1.5% | 1.9% |
| Canada | 2.3% | 2.4% | 2.3% | 2.2% |
| China | 8.5% | 8.2% | 7.7% | 7.3% |
| India | 6.3% | 6.2% | 6.2% | 5.1% |
| Brazil | 3.9% | 4.0% | 3.2% | 2.5% |
| Mexico | 3.5% | 3.5% | 3.2% | 3.0% |
Copyright 2013, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: GDP forecasts, IMF
ShareThis
