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Imf Cuts 2015 Growth Forecast For Us, Uk, Japan And Canada

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The International Monetary Fund has cut its global growth forecast for 2015 after a harsh winter led to a weak start in the US.

In an update to its World Economic Outlook (WEO), the Washington-based IMF said it now expected global output to expand by 3.3%, down from the 3.5% it pencilled in three months ago.

It also shaved its forecasts for four of the G7 leading industrial countries – the US, the UK, Japan and Canada – and said the risks to its forecast were skewed to the downside.

Growth in the US is now projected to be 2.5% this year, opposed to the 3.1%the IMF forecast in April. The UK’s growth forecasts have been cut from 2.7% to 2.4% in 2015 and from 2.3% to 2.2% in 2016.

The updated WEO showed global growth at 3.3% in 2015, slightly lower than the 3.4% recorded in 2014. In 2016, growth is expected to strengthen to 3.8%.

More downside risks, who'd have thought...

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OtterWood Capital Management:

What's happening to oil and how that will affect Canada

5 minutes in: "we've never had a housing market correction without the US being in recession, and I think this is going to be the first time post WW2 that we are going to get it"

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