The economic turmoil in China and a fall of commodity prices worldwide have taken a toll on the wider economy. The International Monetary Fund on Tuesday revised its growth forecast for this year downwards from 3.3 to 3.1 percent.
In its latest assessment and forecast for the world economy, the International Monetary Fund has been the bearer of some rare good news. Yet, while the global economy is enjoying strong growth, challenges remain.
The good news continues for Europe’s largest economy. The government has raised its growth forecast on the back of a more positive global outlook and as a result of strong domestic industrial and export figures.
The World Trade Organization has issued a marked upward revision of its trade growth forecast for this year. Its regained optimism is based on stronger economic indicators in China, the US and the eurozone.
The International Monetary Fund has said it believes in an even broader economic upswing globally in the years ahead. The lender's latest revision of its quarterly growth outlook also bodes well for the eurozone.
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