Britain Decision: World and Growth

britain decision: The revision in the IMF update of its April World Economic Outlook unsurprisingly concentrated on advanced European economies, particularly the UK itself, according to Nine News Australia. But countries like China have not only missed a downgrade but showed a modest improvement for 2016 - 6.6 per cent growth rather than 6.5 per cent. The International Monetary Fund downgraded its world economic growth forecast on Tuesday in response to the fallout from Britain decision to leave the European Union. The IMF did not provide an update for Australia."Our growth rates are still the envy of the advanced world, in terms of the advanced economies around the world, and I'm sure that will be the case as I meet with my colleagues this weekend," Mr Morrison told ABC Television on Wednesday. Commonwealth Bank of Australia strategist Elias Haddad expects the IMF will likely upgrade these forecasts in its October world outlook."Australia economy is already growing at an above-trend annual pace of 3.1 per cent ... and leading indicators are encouraging," he said. In April the IMF forecast Australian growth at 2.5 per cent in 2016 and three per cent in 2017. (news.financializer.com). As reported in the news.