London (CNN Business) The global economic recovery from the coronavirus pandemic is weakening and risks are rising, according to the International Monetary Fund.
The IMF on Tuesday slashed its 2021 growth forecast for the United States by one full percentage point to 6%, the biggest reduction suffered by any G7 economy in its latest World Economic Outlook.
The cut reflects disruptions to supply chains and softening consumption in the third quarter, the IMF said.
The revision comes days after Goldman Sachs cut its growth forecasts for the US economy this year and next, citing weaker consumer spending and the winding down of the government’s Covid-19 relief programs.
