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Tuesday, May 26, 2020  Spokane, Washington  Est. May 19, 1883
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News >  Business

IMF trims economic forecast for U.S.

Associated Press

WASHINGTON – The International Monetary Fund has trimmed its outlook for the U.S. economy, citing the number of uncertainties that surround President Donald Trump’s plans to boost economic growth.

The IMF forecasts that the U.S. economy will grow this year at an annual rate of 2.1 percent. That would be an improvement over last year’s lackluster 1.6 percent growth rate but down from the IMF’s April forecast for growth this year of 2.3 percent.

The IMF also trimmed growth for next year and said the economy would have a hard time achieving the 3 percent growth goal set in the president’s first budget.

The IMF’s annual review of the U.S. economy says that history would suggest that the growth acceleration projected by the administration is “unlikely.”

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