IMF sees ‘serious slowdown’ but no recession

The International Monetary Fund (IMF) has cut its world economic growth forecasts for 2019 and 2020 due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilise a slowing global economy.

In its second downgrade in three months, the global lender also cited a bigger-than-expected slowdown in China’s economy and a possible no-deal Brexit as risks to its outlook, saying these could worsen market turbulence in financial markets.