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Page added on July 13, 2013
IMF projects slower growth for 2013
The International Monetary Fund in Washington on Tuesday said economic growth prospects for 2013 had weakened since April.
In the group’s World Economic Outlook report, the IMF said global economic growth in 2013 would be slightly above 3 percent, dropping its growth predictions due to “weaker domestic demand and slower growth in several key emerging market economies.”
The IMF said risks to growth had increased since April, when it published its last World Economic Outlook report.
“While old risks remain, new risks have emerged,” the report said naming slower growth in emerging economies, slowing credit “and possibly tighter financial conditions if the anticipated unwinding of monetary policy stimulus in the United States leads to sustained capital flow reversals.”
Although stock markets in the United States and Japan have soared in recent months, the IMF noted increased market volatility that “increased globally in May and June after a period of calm since last summer.”
The IMF also called attention to widening spreads in government bond yields, which are affecting “peripheral euro area” economies.
“Emerging market economies have generally been hit hardest,” the IMF said, as wilder swings in stock markets “combined with weaker domestic activity,” have prompted investors to withdraw funds from emerging markets, the IMF said.
2 Comments on "IMF projects slower growth for 2013"
BillT on Sat, 13th Jul 2013 1:44 pm
Gee. I could have told them that in January. I doubt that it will even hit 2%. The US Debt Limits will be reached by the end of August at the latest… then it is projected that there will be a long delay before any extension is given. The stock Market is a huge gigantic bubble backing into a hedgehog convention and the Middle East is so hot that anything can happen there.
DC on Sat, 13th Jul 2013 4:39 pm
Who gives a damn what the IMF thinks anyhow? The only reason the ‘stock market’ is up in Japan and the US of Fraud, is both have been engaged heavily in ‘QE’, which makes its way immediately to the ‘market’, where it promptly inflates stocks and bonds even if there is little or real economic activity to justify it. Then the press and various politicians point to the ‘market’ and say “Look, the market is rebounding, all is well”. And the do this, because the consumers class has been conditioned to believe the stock market actually IS the economy, even though it means very little to over 90% of population.
Anyway I am glad growth is ‘weak’ IMF. Ive seen lots of ‘growth’ over the years and what good as any of it done?-very little as it turns out.