The IMF cut its projection for global output growth this year to 2.8% in its updated World Economic Outlook released Tuesday. That's lower than its January forecast of 3.3% and would be the slowest expansion of gross domestic product since the Covid-19 pandemic in 2020. It would also be the second-worst figure since 2009.
The International Monetary Fund sharply lowered its forecasts for world growth for this year and next, warning the outlook could deteriorate further as US President Donald Trump's tariffs spark a global trade war.
The downgrades add weight to similar warnings from several Wall Street banks in recent weeks, with JPMorgan Chase & Co and Goldman Sachs Group saying the chances of a recession in the US have spiked.
