The International Monetary Fund – who seem to have been delivering us nothing but bad news for the past four years – has lowered their growth forecast for most developed countries, including the UK.
Six months ago they predicted that worldwide growth would be 3.5% but yesterday they announced it would be lowered to 3.3%.
The UK is expected to only grow by 0.7%, despite predictions of 1% in January – however this is still above the 0.6% growth forecast in the recent Budget.
But perhaps these figures are not that bad when compared to the rest of Europe. The Eurozone as a whole has been cut to -0.3% growth and the UK is actually still on course to grow more than Germany and France this year.
