IMF cuts its global growth forecast, citing supply disruptions and the pandemic

The International Monetary Fund is now less optimistic about the global economy for 2021, but still sees reasonable growth over the medium term. 

In its World Economic Outlook, published Tuesday, the Fund said it expects global gross domestic product to grow by 5.9% this year — 0.1 percentage point lower than its July estimate. For next year, the IMF has kept its global growth projection at 4.9%.

The revised outlook for this year comes amid supply chain issues in advanced economies and a worsening health situation in emerging countries.