IMF lowers growth projections in 2008

IMF has updated its October forecasts and lowered its growth projections. It says world economy is poised to grow by 4.1% in 2008 lower than 4.4% it projected in October 2007 outlook.

Basically, IMF has revised its estimates by 0.5% each year between 2002-07 as part of its International Comparison Program. It had estimated world economy to grow by 4.7% in 2007 but the recent report shows it has actually grown by 4.9%.

The economic outlook is here and financial market update is here

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