World economic growth remains “mediocre”, as economies try to shake off the lingering effects of the financial crisis while facing the prospect of even slower activity ahead, the IMF says in its October World Economic Outlook (WEO). The IMF predicts that world output will rise by 3.3pc this year and 3.8pc in 2015, as it scales back expectations for global growth, as it has done repeatedly in recent years (see table). Just three months ago, it anticipated growth of 3.4pc for 2014 and 4pc for 2015 (WPA, 25 July, p9).
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