IMF to release global economic forecasts in a week, prospects are “less bright” -Lagarde

IMF sounding downbeat as it prepares to release global economic forecasts next week: The IMF is becoming less optimistic about global economic growth prospects “as factors identified as merely risks earlier in the year have begun to materialize,” fund boss Christine Lagarde said at a news conference yesterday, the Wall Street Journal reports. Turmoil in emerging markets threatens to spread beyond the edges of the developing world and into more mature markets and new trade restrictions might be put into place, which “is hurting not only trade itself, but also investment and manufacturing as uncertainty continues to rise,” she said. Debt levels in some countries is also rising to alarming levels, which typically indicates that a slowdown is imminent. The IMF’s newest projections will be out next week.