The IMF slashes its US growth forecast as disruptions to supply chains and a resurgent Covid-19 pandemic slow economic momentum around the world
The IMF on Tuesday slashed its 2021 growth forecast for the United States by one full percentage point to 6%, the biggest reduction suffered by any G7 economy in its latest World Economic Outlook.The cut reflects disruptions to supply chains and softening consumption in the third quarter, the IMF said.
" Evergrande default looms as another developer warns of troubleOverall, the balance of risks for the global economy is"tilted to the downside," according to the IMF, which pointed to rising inflation fueled by higher commodity prices and mismatches between supply and demand following the pandemic. Supply chain bottlenecks have led to shortages of a range of goods and astronomical increases in shipping costs, which are pushing up consumer prices.
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