Trade war effect:  IMF upgrades US growth forecast but warns of rising risks

Aarthiknews

WASHINGTON, June 6 . The US economy is expected to grow slightly faster this year than projected in April but is overshadowed by “material risks,” including damage from the trade conflict with China, the International Monetary Fund said Thursday.

The IMF upgraded the GDP forecast for 2019 to 2.6 percent, three tenths higher than in April, while growth in 2020 is seen moderating to two percent, according to the annual review of the US economy.

But the fund once again warned that risks are rising, including rising debt levels and growing inequality, and urged a rapid resolution to the dispute with China which threatens the global economy as well. AFP

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