International Monetary Fund (IMF) Economic Counsellor Maurice Obstfeld speaks at a news conference during the World Bank/IMF Annual Meetings, Tuesday, Oct. 4, 2016, at IMF headquarters in Washington. ( AP Photo/Jose Luis Magana)
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The IMF Tuesday left its global economic forecasts unchanged into 2017 but called on governments to take action against the threats of low growth and protectionism.Global output is expected to grow this year by 3.1 percent before rising to 3.4 percent next year, estimates that are unchanged from July, according to the IMF's new World Economic Outlook report.But the Fund downgraded forecasts both for growth in global trade volume and for advanced economies' output, saying that prospects for richer countries had darkened this year. The IMF notably cut its outlook for the United States, the world's largest economy, but upgraded those for Japan and the eurozone.The IMF downgraded its outlook for advanced economies this year by 0.2 percentage points to 1.6 percent but raised it slightly for emerging and developing economies to 4.2 percent.The world trade outlook also soured, with growth now pegged at a very low 2.3 percent this year, before rising to 3.8 percent in 2017 .
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