IMF Cuts US Growth Forecast Due to Supply Chain Chaos, Weaker Spending

IMF Cuts US Growth Forecast Due to Supply Chain Chaos, Weaker Spending
A participant stands near a logo of IMF at the International Monetary Fund—World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, Oct.12, 2018. Johannes P. Christo/Reuters File Photo
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

The International Monetary Fund (IMF) has slashed its growth forecast for the United States by one full percentage point, blaming supply chain disruptions and weaker consumption, while warning of growing economic risks to the world economy.

In its most recent World Economic Outlook, released on Oct. 12, the IMF cut the growth forecast for the United States from 7.0 percent in July—a level that would have been the strongest pace since 1984—down to 6.0 percent. At the same time, the IMF raised the U.S. growth forecast for 2022 by 0.3 of a percentage point to 5.2 percent.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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