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IMF: European financial crisis, slower growth in China worsens global economic outlook
WASHINGTON (AP) ¯¯¯ An international lending organization has slightly lowered its outlook for global growth over the next two years, saying Europe's financial crisis and slower expansion in China and India have weakened the world economy.
The International Monetary Fund says it expects the world economy to expand 3.5 percent this year. That's down slightly from its previous estimate of 3.6 percent in April.
In a quarterly update to its World Economic Outlook, the IMF also cut its forecast to 3.9 percent in 2013, from 4.1 percent three months ago.
And it shaved its U.S. growth forecast to 2 percent this year from its previous estimate in April of 2.1 percent. For 2013, it expects U.S. growth of 2.3 percent, down from 2.4 percent.