The International Monetary Fund cut its projections for global economic growth by .3% and said that there are considerable possibilities of further deterioration in the world economic outlook.

One of the IMF’s biggest downgrades focused on the United Kingdom which had been forecasted to show very small growth through the rest of 2012. The revised forecast is calling for a .4% shrinkage. The Fund still believes that at least 1% growth for the UK is possible in 2013 but that forecast was also cut by .3%. Continue reading →