The IMF slashed its outlook for the euro area to 1.3 percent this year, down 0.3 point from three months ago. Growth is expected to be softer in several major European economies, including Germany, where weak global demand and tougher car-emission standards have hit factory production. Weak domestic demand and high sovereign-debt spreads have dimmed Italy’s outlook, while street protests in France weighed on growth, the fund said.
The IMF cut its outlook for U.K. growth to 1.2 percent this year, down 0.3 point from three months ago.
The IMF raised its forecast for Chinese growth by 0.1 point to 6.3 percent this year, while lowering its projection for growth in Japan by 0.1 point to 1 percent. The fund cut its outlook for India’s growth this year to 7.3 percent, down from 7.5 percent in January.
This article provided by Bloomberg News.