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IMF Cuts Global Outlook as Commodity Slump Hits Emerging Markets

  • Brazil, Russia to Contract in 2016; China Forecasts Unchanged
  • Advanced-Nation Growth to Accelerate Only Marginally, IMF Says
Chinese home buyers visiting a housing fair in Yichang, in China's Hubei province.

Chinese home buyers visiting a housing fair in Yichang, in China's Hubei province.

Photographer: STR/AFP via Getty Images
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The global economy is having power problems.

A slowdown in emerging markets driven by weak commodity prices forced the International Monetary Fund to cut its outlook for global growth this year to 3.1 percent from a July forecast of 3.3 percent. Next year the world economy will expand 3.6 percent, less than the 3.8 percent projected in July.