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Added on the 26/08/2015 15:58:00 - Copyright : Reuters EN
Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China's lifting of zero-Covid restrictions provides another boost. SOUNDBITE
Surging inflation and severe slowdowns in the United States and China prompted the IMF to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse. SOUNDBITE
The IMF downgrades its forecast for global economic growth this year, citing the impact of the Omicron variant of Covid-19, which contributed to a slowdown in the United States and China. World GDP is forecast to expand 4.4 percent this year, half a point lower than its previous estimate released in October, says IMF First Deputy Managing Director Gita Gopinath. SOUNDBITE
China's economy will grow slower than initially expected this year owing to a stronger-than-anticipated "fiscal tightening," IMF chief economist Gita Gopinath says. SOUNDBITE
Beijing / Shanghai, Aug 7 (EFE/EPA).- China's trade with the rest of the world grew by 11.5 percent year-on-year in July, official data published on Saturday showed.However, the customs data indicated that the growth rate from a year earlier has slowed down.Yuan-denominated exports grew 8.1 percent last month to 1.82 trillion yuan ($281.6 billion), and imports increased 16.1 percent to 1.45 trillion yuan ($224.4 billion). (Camera: ARCHIVE).ARCHIVE FOOTAGE OF THE CITIES OF BEIJING AND SHANGHAI, CHINA.
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