Focusing on the US GDP growth change!
Is that the right mark given other global changes this past month, like in China?
The IMF has cut its global growth forecast by blaming a slowdown in the US! It has ored the market melt down signs in China!
Looks like a poor analysis to me as an economist.
The IMF now says the global economy will expand only by about 3.3% in 2015. It points out its lowered forecast for US growth to 2.5% in 2015 from an earlier estimate of 3.1%. But I believe that this may be a misplaced analysis by the IMF economists. China’s economic issues will have a greater impact then the US hiccups.
The IMF also beliefs that despite all of the hype around the Greece crisis… …the Greece crisis was having a only a marginal effect on the global economy. That sounds true. IMF left its entire eurozone growth forecast for 2015 unchanged at 1.5%. It predicts that Germany will grow by 1.6%
INCREDIBLY… … the IMF has left its forecast for growth in China unchanged at 6.8%, despite the recent stock market volatility. It’s only comment about China is that: “The bubble has burst,” according to Olivier Blanchard, director of the Research Department at the IMF.
That is hardly an in depth analysis. What do you think?
There was no report cited by the BBC story as to changes in economic growth in South Africa, Brazil, Australia, or other sub markets that rely heavily upon selling resources to China.
See: http://www.bbc.com/news/uk-33464099 for more on their take of this news.
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