(Bloomberg) -- The global economy is moving "sideways" this year, according to the IMF, as it upgraded its growth projections for a slew of emerging markets while downgrading its outlook for advanced economies.
In its semi-annual update to the World Economic Outlook report on Tuesday, the Washington-based lender forecast a healthy rate of expansion this year for emerging Asia's two largest markets, a sharp contraction for a clutch of commodity-producing nations, and a mixed outlook for advanced economies.
The report — which warns political tensions over globalization are exerting a drag on global economic expansion — sharply downgrades growth forecasts this year for the U.S. and Mexico, most notably, relative to projections in July.
Here are the forecasts for the world economy in full.
To contact the authors of this story: Sid Verma in London at sverma100@bloomberg.net, Isobel Finkel in Istanbul at ifinkel1@bloomberg.net.
To contact the editor responsible for this story: Joe Weisenthal at jweisenthal@bloomberg.net.
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