IMF Lowers U.S. Growth Projections to 2 Percent |
| Bloomberg - Jul 3, 2012 |
The U.S. economy will grow by 2 percent this year and about 2.25 percent in 2013 amid a “tepid” recovery and the European debt crisis, the International Monetary Fund said, lowering its previous projections.
The U.S. economy remains “subject to elevated downside risks, in light of financial strains in the euro area and uncertainty over domestic fiscal plans,” the IMF said in a statement today. In an April report, the IMF forecast U.S. growth of 2.1 percent this year and 2.4 percent in 2013.
The headquarters of the International Monetary Fund (IMF) stands in Washington, D.C. Photographer: Andrew Harrer/Bloomberg
The economy expanded at a 1.9 percent pace in the first quarter, the same as previously estimated, and slower than the 3 percent pace in the prior three months, revised data showed last week.
To combat flagging growth, Federal Reserve policy makers said they are ready to take more steps should the U.S. expansion slacken.
Read Full Article from Bloomberg
- Posted: 2012-07-03 12:17:08
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