Chuck Burton, Associated Press
WASHINGTON — The International Monetary Fund has lowered its outlook for the world economy this year, predicting that government spending cuts will slow U.S. growth and keep the euro currency alliance in recession.
The global lending organization has cut its forecast for global growth to 3.3 percent this year, down from its forecast in January of 3.5 percent. It's keeping its prediction of 4 percent global growth in 2014.
The IMF expects the U.S. economy to expand 1.9 percent this year. That's below its January estimate of 2.1 percent and last year's U.S. growth of 2.2 percent. Still, the IMF says the U.S. economy should expand 3 percent in 2014.
The organization is issuing its latest forecasts in advance of spring meetings of the IMF and World Bank in Washington this week.
- New solar energy project at Utah Olympic Oval...
- $1.8B project to take Salt Lake City...
- Company plans to hire up to 1,000 new...
- Balancing act: Survey says lack of balance,...
- Dave Ramsey says: Don't leave an estate with...
- Airlines scrap Israel flights over missile fear
- Beef pollutes more than pork, poultry, study...
- Microsoft makes design central to its future
- $1.8B project to take Salt Lake City... 17
- Would you permanently leave your family... 6
- Obama gives protection to gay,... 5
- Future of Draper Park School building... 4
- New solar energy project at Utah... 4
- Weird ways our brains control our money... 3
- Microsoft CEO pivots sharply with... 2
- Project aims to improve wireless... 2