TOKYO -- Plagued by uncertainty and fresh setbacks, the world economy has weakened further and will grow more slowly over the next year, the International Monetary Fund says in its latest forecast.
Advanced economies are risking recession, the international lending organization said Tuesday in a quarterly update of its World Economic Outlook, and the malaise is spreading to more dynamic emerging economies such as China.
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The IMF forecasts that the world economy will expand 3.3 percent this year, down from the estimate of 3.5 percent growth it issued in July. Its forecast for growth in 2013 is 3.6 percent, down from 3.9 percent three months ago and 4.1 percent in April.