No-deal Brexit could tip United Kingdom and European Union into recession, International Monetary Fund says

US-ECONOMY-IMF

The International Monetary Fund (IMF) forecasts Bulgaria's GDP growth as ending at 3.3 per cent in 2019, but slowing to three per cent in 2020, according to its April 2019 World Economic Outlook.

Globally, IMF cut growth by 0.1 percentage point to 3.6 per cent for 2018 from its October 2018 World Economic Outlook due to weakness in the second-half of the year.

The IMF also forecasts an unemployment rate of 6.8% this year, above the previous estimate of 6.5% and higher than the government's estimate of 6.3%. The IMF raised its forecast for US growth in 2020 by a tenth of a percentage point to 1.9 per cent.

"With this weakness expected to persist into the first half of 2019, our new World Economic Outlook projects a slowdown in growth in 2019 for 70 percent of the world economy", she wrote in a blog on Tuesday. Following softened growth of 3.6 per cent past year, it is projected to further slow in the first half of 2019 to reach 3.3 per cent, representing a downward growth projection of 0.2 per cent.

As per the recent All India Index of Industrial Production, growth in the manufacturing sector slowed to 1.3% in January, while the growth of eight core industries remained sluggish at 2.1% in February.

The report said: "Following a broad-based upswing in cyclical growth that lasted almost two years, the global economic expansion decelerated in the second-half of 2018". If the downside risks do not materialize and the policy support put in place is effective, global growth should rebound.

But with temporary factors waning, Germany's growth is projected to accelerate to 1.4 percent and Italy to 0.9 percent.

Risks to global growth are prevalent though.

Heat's Wade: Therapy will help in retirement
If you were scrolling through the thread at all, you had to have noticed a weird theme in all the tweets . "That's insane . Throughout the night, Union loudly cheered him on and even gave him a playful pat after scoring a three-pointer.

The IMF is holding its spring meeting in Washington this week, with the world's finance ministers and central bankers preparing to attend.

In its third downgrade since October, the International Monetary Fund said the global economy will likely grow 3.3 per cent this year, the slowest expansion since 2016.

Global trade growth has slowed sharply from its peak in late 2017, and expectations for future business activity have weakened, pointing to slowing momentum ahead, the report said.

Tensions in trade policy could flare up again and play out in other areas (such as the auto industry), with large disruptions to global supply chains, she cautioned.

Rupee that lost a quarter of its value against the dollar over a year kept consumer inflation on the upward trajectory and in March alone, annual consumer inflation reached more than five years high of 9.41 percent.

Regionally, IMF predicts that the baseline outlook for emerging Asia remains favourable, while subdued commodity prices and civil strife or conflict in some cases, contribute to subdued medium-term prospects for Latin America; the Middle East, North Africa, and Pakistan region; and parts of sub-Saharan Africa.

"The projected recovery reflects modestly reduced but continued policy uncertainty in the South African economy after the May 2019 elections".

The U.S. economy, while seen outperforming other rich nations' economies, also got a downgrade on signs that a fiscal stimulus fuelled by tax cuts was producing less activity than previously expected.

Related News:



Most liked

Trudeau violated MPs' rights, broke law with 'unilateral' expulsion: Philpott
Two months later, Philpott announced her resignation, saying she had lost "confidence" in the government's handling of the case.

IPhone users targeted by new spyware threat
The new version will be rolling out within this year, in hopes that the app experience will be less buggy and more seamless. The cute little GIF heralds a new dawn for Android users, who should have automatically received the update yesterday.

Huawei reportedly happy to sell Apple its 5G modems
Apart from the technical and political considerations, Apple might also have its slowing sales growth to think about. In addition to the fact that it would pay an opponent, it could likewise create issues with the U.S. government.

WhatsApp To Provide Group Admins To Power To Disallow Frequently Forwarded Messages
Now group administrator can easily check on the feature that allows admins to limit getting forwarded posts in the group as well. If the admin feels that all users in the group forward only real news, they can choose to keep it disabled.

Oil rallies as US petrol inventory draw offsets crude build
Global oil demand is estimated to average 99.91 million bpd this year, compared with 98.70 million bpd in 2018, OPEC said. Oil production in the United States has risen by more than 2 million bpd since early 2018, to a record 12.2 million bpd.

Google turns Android smartphones into account security keys
And Google's latest solution is a similar, hardware-based approach that's actually based on the prominent FIDO2 standard. From there you need to select the option to add a security key and choose your smartphone from the list of devices.

OnePlus 7 Pro key specifications revealed ahead of OnePlus 7 launch
The second image claims that the OnePlus 7 variant that has a model number of GM1915 will be hitting the market as OnePlus 7 Pro . The OnePlus 7 Pro doesn't feature a front camera so there is no notch while the design may have a slider for the selfie shooter.

Galaxy S10 with 5G Support Launches Today, But There’s a Catch
Around 30 customers were invited to the event, which was also attended by figure skating queen and SKT 5G ambassador Kim Yuna. A spokesperson for the world's Smartphone market leader said there are no sales forecasts for the new phone yet.

General Elections 2019: polling in vast swathes of country on April 11
Nitin Gadkari is facing BJP rebel Nana Patole, who has been fielded by the Congress this time. There are 2,118 candidates for the state polls and 319 for the Lok Sabha elections .

Bodies Of Missing New York Couple Found In Dominican Republic, Police Say
State Department officials said earlier this week that they were working with Dominican authorities to find the missing couple. According to the Dominican authorities, Ravenelle managed to escape the auto as their rented vehicle went under water.

Mullin explains decision to step down at St. John’s
Mullin took over for the Red Storm in 2015, and it was clear that he showed improvement every season in the Big East. He led the Sun Devils to back-to-back NCAA Tournament appearances, but bowed out in the First Four in each.

Boeing orders and deliveries tumble as Max jet is grounded
Boeing said last week it would cut monthly 737 MAX production by 20 percent starting mid-April, without giving an end-date. Delta Air Lines neither owns nor has any orders for the Max - most of its pending orders are with Boeing's rival, Airbus.

It's deadline day for Trump's tax returns
Waters asked Mnuchin for another 15 minutes, pointing out that the secretary was not the only one short on time . The likelihood of a court fight over President Donald Trump's tax returns grew on Wednesday when the U.S.

Casino giant abruptly 'walks away' from Crown takeover talks
Wynn Resorts abruptly ended buyout talks with Australia's largest casino operator after word of a potential takeover was leaked. CommSec's Tom Piotrowski said that this could well be a tactical move by Wynn and the deal could be back on.

College Admissions Scam: Actress Felicity Huffman to Plead Guilty on May 21
However, United States federal prosecutors are likely to recommend just 12 months in jail and a fine of $20,000, CNN reported . Attorney's Office in MA announced that it had charged 50 people , including Huffman and Loughlin, in the cheating scandal.