The International Monetary Fund (IMF) has downgraded its global growth forecast for both this year and next, as a divergence emerges between those economies that are recovering—and those that are not.
The organization, which represents 188 countries, now expects world growth to come in at 3.3 percent in 2014, down 0.1 percent from its forecast in July. While in 2015, it expects growth of 3.8 percent, down 0.2 percent from earlier expectations.
It comes less than a month after the Organisation for Economic Co-operation and Development (OECD) slashed its expectations for the global economy because of concerns about a stuttering recovery in the U.S. and the continued fragility of the euro zone.
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