IMF sees steady economic growth and other economics stories to read

The International Monetary Fund (IMF) is projecting steady growth for the global economy over the next two years, with growth projections unchanged in the latest update to its World Economic Outlook. The forecast for this year stays at 3.2%, while it’s slightly higher next year at 3.3%.

However, there are shifting sands under the surface of these topline growth figures, writes Pierre-Olivier Gourinchas, Economic Counsellor and the Director of Research of the IMF.

Growth in major economies is becoming more aligned, with the United States showing signs of cooling, while the euro area is set to pick up, he says. Asia’s emerging market economies continue to be the main engines of global growth, and prospects for India and China have been revised, accounting for almost half of global growth.

However, prospects for the next five years are weaker due to slowing momentum in key growth drivers across emerging Asia.