George Buckley
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IMF downgrades UK economic growth forecast

The IMF has downgraded its forecast for the UK's economic growth for 2012 to 0.2%, down from its previous estimate of 0.8%.

It also reduced its prediction for UK growth next year from 2% to 1.4%.

Global growth for 2013 was also downgraded to 3.9% from the 4.1% prediction it made in April.

The IMF cites the eurozone debt crisis as the main contributor to this downgrade.

Chief UK Economist at Deutsche Bank, George Buckley, told the BBC's Stephanie Flanders that the downgrade was worrying.

  • 16 Jul 2012