(Washington) – In its newest assessment of the global economy, the International Monetary Fund said world output would expand by 3.3 percent this year, compared to the 3.5 percent it predicted in January. This has left the pace of the world economic expansion virtually flat from 2012’s 3.2 percent, with slower-than-expected growth in the United States and prolonged stagnation in the euro area the key reasons behind the downgrade. “We are in a better place but… we’re not out of the woods,” said Olivier Blanchard, IMF chief economist.
