The International Monetary Fund (IMF) lowered its projection for 2019 growth of the world economy, largely due to weakness in Germany and Turkey. The latest growth estimate is 3.5%, which is -0.2 percentage points below IMF’s previous forecast. This is IMF's second downward revision for the world economy’s 2019 growth.
IMF also pointed towards growing risks in the form of Brexit challenges and trade disputes amongst nations. IMF Managing Director Christine Lagarde warned the "risk of a sharper decline in global growth has certainly increased," but also indicated that the headwind is unlikely to snowball into a global recession anytime soon. China’s macroeconomic slowdown amidst U.S. tariffs was mentioned as a potent cause of concern about global markets and economies.
The IMF projects the U.S. economy to grow at 2.5% in 2019 followed by a slower 1.8% in 2020.