What's all the fuss about?
Maybe the world economy isn't in such terrible shape after all. New projections from the International Monetary Fund, published Tuesday, show that expansion still has some legs. Growth will be a not-too-shabby 3.3 percent this year.
That's down from a previous forecast of 3.5 percent. So, yes, it's a cut. But not a dramatic one. These numbers are a ways from one IMF definition of recession, 2.5 percent, and miles from the contraction recorded in 2009. Superlatives about the lowest growth since the Great Recession are misleading.