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Weakness In North America Dampens IMF Growth Outlook


Newfound weaknesses in North America are adding a sense of "disquiet" to the global economic outlook, according to the International Monetary Fund.

The IMF cut its forecast for US growth by 0.6% this year and 0.3% next year in its most recent report on global economic outlook, citing the Federal Reserve's lack of interest rate movement as a concern.

But the bad news doesn’t stop with America—weakness in the US is impacting the rest of North America and Canadian growth was trimmed by 0.2% this year while foreseeable growth in Mexico was dropped by 0.4% this year and 0.3% next year, MarketWatch reports.

The IMF remains steady when it comes to its projections for the global economy, maintaining its 3.1% growth forecast for 2016. [MW]