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News Summary: IMF cuts world growth forecast

Source : AP
Last Updated: Tue, Oct 09, 2012 21:02 hrs

: The International Monetary Fund says the world economy has weakened further and will grow more slowly than previously expected this year and next year.

REASONING: The IMF cited the risk of recession in advanced economies in Europe and in the U.S., and said the malaise is spreading to emerging economies including China.

THE NUMBERS: Predicts that the world economy will expand 3.3 percent this year, down from the IMF's July estimate of 3.5 percent growth. In 2013, expects that the world economy will grow 3.6 percent, down from the July forecast of 3.9 percent and the April prediction of 4.1 percent.

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