GDP revisions

Bank of Korea is revising lower the Korean GDP growth forecast. Small revision from 2.8% to 2.7% and inflation forecast from 1.2% to 1.1%.  [Link]. Korea’s policy rate stands at 1.25%.

Japan’s gross domestic product will expand by just 0.9 percent in the fiscal year that started in April, compared with a January estimate of 1.7 percent, the Cabinet Office said. The consumer price index will rise 0.4 percent, compared with an earlier projection of 1.2 percent, it said. [Link]

In a supplement to its annual Article IV report published Monday, the IMF estimated Italy’s economy to expand by just under 1% this year, down from a forecast of a 1.1% growth originally published in May.

For next year, the IMF revised its growth forecast for Italy to roughly 1%, from 1.25% previously. The new forecasts are preliminary and final data would be published next week, the IMF said. [Link]

In the light of Brexit, IMF has revised down growth forecasts for the UK, for European economies and for the global economy as well. [Link – may be behind a paywall]

The July 2016 World Economic Outlook Update of the IMF can be downloaded here.

Tell this to the global stock market investors.

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