Investing.com - The IMF Monday affirmed its outlook for global economic growth this year and the next but cut its forecasts for the U.S.
In an update of its World Economic Outlook, the IMF forecast global growth for 2017 and 2018 at 3.5% and 3.6% respectively.
Those were the same forecasts the IMF gave in April.
The multilateral agency lowered its forecasts for U.S. growth to 2.1% for this year and the next from 2.3% and 2.5% in 2018.
It dropped its assumption of the introduction of economic stimulus measures by the Trump administration.
"While risks around the global growth forecast appear broadly balanced in the near term, they remain skewed to the downside over the medium term," the IMF said.
Euro-zone GDP growth forecast for this year was raised to 1.9% from 1.7% and to 1.7% in 2018 from 1.6%.
The IMF slightly raised its forecast for Chinese growth to 6.7% this year and 6.4% in 2018.
It slightly raised its outlook for Japan growth this year to 1.3% with output expected to slow to 0.6% in 2018.
The U.K. economy is now seen growing 1.7%, down from a forecast of 2.0% in April
The IMF maintained its forecast for U.K. 2018 growth of 1.5%.