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Sampson Financial 20th January 2015 - IMF Mirrors World Bank and Cuts Global Growth Forecasts

The International Monetary Fund has followed on from the World Banks forecasts last week and cuts its Growth Outlook figures for 2015 and 2016.

Last week saw the World Bank reduce its Global Growth forecasts and this week has seen the IMF follow suit.

Cutting its Global target from 3.8% in its October report to 3.5% for 2015 today the report quotes the same factors as the World Bank, lower oil costs, a reduction in global investment and deflation in the EU. 2016 growth targets were marginally reduced to 3.7%.

The announcement comes the same day as China confirmed its growth for 2014 had reached 7.4% against a target of 7.5%. The IMF see's China's growth in 2015 at just 6.3%, significantly below the governments own goal of 7%.

The EU is still seen in a recovery position, however with the current deflation concerns and the ECB possibly looking to confirm QE plans later this week the forecast of 1.2% expansion for 2015 and 1.4% for 2016 are rather cautious.

As with the World Bank, it's not all doom and gloom.

Both the US and the UK show signs of good growth over the next 2 years. The US should see growth in the region of 3.6% and 3.3% for 2015 and 2016 respectively and the UK is forecast to expand by 2.7% this year and an additional 2.4% in 2016.

Global markets have started to show gains today on a string of positive news and outlooks. This latest forecast from the IMF is no real surprise and may be being underplayed, especially as this week and the coming months will see policies out of the EU, Japan and China which will no doubt have significant implications for the global economy.

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DISCLAIMER The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Sampson Financial Management. All market data within this release is for your general information and enjoys indicative status only. Sampson Financial Management does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.


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