Global growth is not looking to gain much momentum in the near future and may soften further as the financial woes faced by the eurozone and US continue.
This is according to head of the International Monetary Fund Christine Lagarde, who said in Washinton DC yesterday (September 24th) that while a steady recovery has been forecast, progress between now and the end of the year may be less than expected.
"Global growth will likely be a bit weaker than we had anticipated," she stated.
Ms Lagarde did, however, welcome the measures taken by eurozone governments to get to grips with the ongoing sovereign debt crisis.
Furthermore, while 2013's global economic growth outlook has been cut to 3.9 per cent, its 2012 forecast remains unchanged at 3.5 per cent.
At 08:40 BST this morning, the major European benchmarks opened lower, with the Frankfurt Dax retreating 0.1 per cent to 7400.7 points and the Paris Cac 40 losing 0.2 per cent to 3490.2 points.
Find the latest spread betting strategies for the Cac 40 at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.