IMF foresees a slight drop in global growth from pandemic

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — The International Monetary Fund is slightly downgrading its outlook for the global recovery from the pandemic recession, reflecting the persistence of supply chain disruptions in industrialized countries and deadly disparities in vaccination rates between rich and poor nations. In its latest World Economic Outlook, the IMF foresees global growth this year of 5.9%, compared with its projection in July of 6%. For the United Sates, the IMF predicts growth of 6% for 2021, below its July forecast of 7%. The downward revision reflects a slowdown in economic activity resulting from a rise in COVID-19 cases and delayed production caused by supply shortages and a resulting acceleration of inflation.