Thursday, February 28, 2013

IMF set to cut growth forecasts if U.S. spending is cut

The International Monetary Fund said Thursday it will likely cut its growth forecasts for the United States and the global economy if automatic U.S.

spending cuts take effect on Friday, and warned that the U.S.'s biggest trading partners would be hardest hit.

IMF spokesman William Murray said that if the cuts are fully implemented, the IMF would likely shave at least 0.5 percentage point off its current forecast of 2 percent growth for the U.S. in 2013.

http://www.reuters.com/article/2013/02/28/us-usa-imf-idUSBRE91R0XB20130228