The IMF and the World Bank cut forecasts of global economic growth for this year and 2013 as the sovereign debt crisis in the Eurozone would have negative impacts across the board. The IMF forecasts that GDP will grow by +3.3% in 2012 and then by +4.0% in 2013. The estimates were down from previous projections of +3.3% and +4.5% respectively. Growth in the US will reach +1.8% this year, unchanged from the previous forecast, and +2.2% in 2013, down from +2.5% in previous projection. Eurozone GDP estimates revised down to -0.5% in 2012 and +0.8% in 2013.
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