The trade conflict between the US and China continues to weigh on the global economy. The International Monetary Fund (IMF) lowered its growth forecast for 2019 - the fourth consecutive year - to 3 percent. In July, the IMF had predicted a growth of 3.2 percent. The economic forecast for Germany was also revised downwards slightly.
According to the IMF, this is the slowest growth of the global economy since the global financial crisis. The International Monetary Fund cited increasing barriers to trade and growing uncertainty as a result of geopolitical risks.
For the coming year, the forecast is indeed better. But even the IMF screwed it down slightly - to 3.4 percent now. The reason: growing tensions in the Middle East and a possible escalation of the trade war between China and the USA. By 2018, the global economy had grown by 3.6 percent.
The IMF sees a slight improvement in 2020. The new economic forecast was presented at the annual meeting of the IMF and the World Bank in Washington. At the multi-day meeting, central bankers, finance ministers and heads of major banks around the world will discuss the challenges facing the global economy.