WASHINGTON (BLOOMBERG) - The International Monetary Fund (IMF) predicted the world economy will strengthen in 2020, albeit at a slightly weaker pace than previously anticipated amid threats related to trade and tensions in the Middle East.
For the IMF, which sees growth accelerating to 3.4 per cent in 2021, the positives include signs that the slump in manufacturing and global trade is bottoming out,"intermittent" good news on US-China trade talks and accommodative monetary policy. The Fund also quantified the impact of central banks' efforts to shore up growth last year. It said expansion in 2019 and 2020 would be 0.5 percentage point weaker without their stimulus.
There's also a clear impact from the US-China trade pact. According to the IMF, it reduces the cumulative negative effect on output from the battle through 2020 to 0.5 per cent from 0.8 per cent. Separately, PricewaterhouseCoopers released a survey which showed the proportion of chief executive officers expecting global growth to slow in the coming year had risen 10-fold since 2018.
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