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IMF’s Lagarde Sees Weaker-Than-Expected Global Growth

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Global economic growth is likely to be weaker than earlier expected, the head of the International Monetary Fund said on Tuesday, due to a slower recovery in advanced economies and a further slowdown in emerging nations.

IMF Managing Director Christine Lagarde also warned emerging economies like Indonesia to “be vigilant for spillovers” from China’s slowdown, tighter global financial conditions, and the prospects of a U.S. interest rate hike.

“Overall, we expect global growth to remain moderate and likely weaker than we anticipated last July,” Lagarde said in a prepared speech at the start of a two-day visit to Indonesia’s capital.

The IMF in July forecast global growth at 3.3 percent this year, slightly below last year’s 3.4 percent.

Lagarde said China’s economy was slowing, although not sharply or unexpectedly, as it adjusts to a new growth model.

CNBC

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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