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IMF Warns of Global Economic Slowdown
By Jennifer Yousfi
Money Morning
Global growth will slow to 3.7% in 2008, the International Monetary Fund announced yesterday (Wednesday), in its most recent World Economic Outlook.
There is also a 25% chance of a global recession should economic growth fall below 3% in 2008 or 2009.
The United States will largely be responsible for worldwide deceleration due to the steep correction in the U.S. housing market and continued fallout from the credit crisis, which started in the subprime sector and has spread throughout the financial system.
The IMF forecast the U.S. economy would slip into…
10Apr2008 | Money Morning | Comments Off | Continued
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