The IMF has cut projections for economic growth in many advanced economies and warns about spillover effects on China after the UK voted to leave the EU. Global growth will be 3.1pc this year and 3.4pc in 2017, the IMF says in this month’s World Economic Outlook (WEO). Each forecast is 0.1 percentage point lower than in the April report (see table). IMF forecasts are widely used in the modelling behind key oil demand projections, including the IEA’s.
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