Daily News: July 6, 2012

IMF Reduces Estimate for Global Growth

Bloomberg reported that the International Monetary Fund will reduce its estimate for global growth this year on weakness in investment, jobs and manufacturing in Europe, the U.S., Brazil, India and China.

Bloomberg quoted IMF managing director Christine Lagarde as saying in a speech, “The global growth outlook will be somewhat less than we anticipated just three months ago. And even that lower projection will depend on the right policy actions being taken.”

The new outlook will be announced in ten days, after an April estimate of 3.5%, Bloomberg said.

To read the full Bloomberg report, click here.