Just when everyone was starting to feel a bit better about the world the IMF scaled back its global growth forecast.
– 4.2% this year compared to 4.3% forecast from June.
– 4.3% in 2012 compared to 4.5% prior.
This is better than the market was expecting after all the downgrades in the US. We’ll wait for the details but this could help sentiment once it all shakes down.