The International Monetary Fund slashed its 2015 growth projections on Thursday for the world due to a setback for the U.S. economy as well as Japan, citing continuously weak consumption.
The global economy is expected to expand 3.3 percent this year in terms of real gross domestic product, down 0.2 percentage point from the earlier forecast released in April, the Washington-based lender said in an update of the semiannual World Economic Outlook report.
"A setback to activity in the first quarter of 2015, mostly in North America, has resulted in a small downward revision to global growth for 2015," the IMF said.