IMF lowers US economic growth forecast for 2017 and 2018

3
141

[Editor’s note: The ‘Trump Effect’ has not only been ruinous to the USA’s international standing and relations, it has also had a negative impact on the US economy. What did you expect when a thoroughly incompetent career criminal who has no skills beyond his ability to lie and fool the gullible was inserted into the White House?

It was never going to be a good thing in any way, shape or form and this has not escaped those in the banking and financial sectors, as these IMF figures illustrate. The sooner Trump is removed, the better it will be for the US economy. Ian]

_________
Mercopress

IMF lowers US economic growth forecast for 2017 and 2018

The IMF on Sunday lowered its economic growth forecasts for the United States to 2.1% for this year and the next, down from the 2.3% for 2017 and 2.5% for 2018 that it had predicted in April.

That’s a far cry from the 4% growth President Trump promised on the campaign trail, and significantly lower than the 3% growth he has targeted since assuming office.

The global financial institution cited the “uncertainty” over the Trump administration’s policies as the main reason for the downgrade.

“The major factor behind the growth revision, especially for 2018, is the assumption that fiscal policy will be less expansionary than previously assumed, given the uncertainty about the timing and nature of U.S. fiscal policy changes,” the IMF said in its latest World Economic Outlook released Sunday.

The IMF also listed the US economy’s sluggish start to 2017 — with a first-quarter growth of just 1.4% — as another factor in its slashing of current forecasts.


The downgrade comes as the US prepares to release its growth numbers for the second quarter this week, with economists predicting that growth improved to 2.7%.

Elsewhere around the world, meanwhile, the picture looks somewhat less grim. While the IMF also cut growth forecasts for the United Kingdom, it expects other European countries including Germany, France and Italy to grow faster in 2017 than earlier predicted. Growth forecasts for Canada, Japan and China this year were also revised up slightly.

The IMF kept its forecast for global growth unchanged at 3.5% for 2017 and 3.6% for 2018.

*


EDITORIAL DISCLOSURE
All content herein is owned by author exclusively.  Expressed opinions are NOT necessarily the views of VT, authors, affiliates, advertisers, sponsors, partners, technicians or Veterans Today Network (VT).  Some content may be satirical in nature. 
All images within are full responsibility of author and NOT VT.
About VT - Read Full Policy Notice - Comment Policy

3 COMMENTS

  1. We must return to 90%+ tax rates for the rich both to prevent them from having so much money to buy Congress and courts and president but also pay down the huge debt. Congress must be forced to have the same health care they approve for everyone else. The military budget must be drastically cut by about 80% and most foreign bases closed for good or nature will do the job automatically.

  2. Instead of “Make America Great Again,” the Orange Bloviator is making Canada great again. See “Canada’s Economic Growth Triples U.S.’s” at http://www.huffingtonpost.ca/2017/05/31/canada-gdp-q1-2017_n_16893628.html.

    Canada has a health care system that most Americans envy, and Canadians are not stupid enough or self-destructive enough to entangle themselves in foreign wars & conflicts (something that our founding fathers & mothers tried to tell us — to no avail).

    So, what does President Tweet now propose? … A: Eliminate health insurance for 32 Million Americans (thus murdering 5,000 to 10,000 Americans per year) and increase the war budget by $50+ Billion.

    IF Trump succeeds in doing as he proposes, then Djibouti will soon have a GNP greater than U.S.

    “Make Djibouti Great Again!” (Trump’s 2018 & 2020 slogans). 😉

    • Eduardo: Those who own & control most national health care systems around the world are so full of themselves that their eyes are turning brown.

      Of course, we need health care systems NOT owned & controlled by Big Pharma and/or the AMA (American or Australian).

      ‘Curing’ diseases is semi-easy; but AMA & Big Pharma don’t want doctors & patients to do that. ‘Managing’ diseases is much more profitable.

      Regardless, universal health insurance or ‘socialized medicine’ is an interim solution — despite my M.D. uncle, who also opposed Medicare.

      Shortly before my M.D. uncle died of cancer (cancer that I offered to help him to cure), he literally said “It’s time for you to die.” Why, I asked. “If you continue to follow the advice of your (Alt.Med) doctors, you’re going to go to hell,” my M.D. uncle answered. I had gone against my favorite uncle’s advice — and helped myself to be cured of terminal heart disease & terminal heart failure. He didn’t like that… 😉

      Although he wanted me to die in 2007, I’m still alive (IMHO). American & Australian medicine is not… 🙂

Comments are closed.