WASHINGTON — World economic growth is slowing, and the prospects for a quick recovery are gloomy, the International Monetary Fund said Tuesday.
The IMF said it expects growth to slow from last year’s 6.1% advance across the globe to 3.2% this year, four-tenths of a percentage point lower than it forecast in April.
“A tentative recovery in 2021 has been followed by increasingly gloomy developments in 2022 as risks began to materialize,” the IMF said. “Global output contracted in the second quarter of this year, owing to downturns in China and Russia, while U.S. consumer spending undershot expectations.”
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Edited by Jesus Chan
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