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The International Monetary Fund is expecting global GDP to grow by 3.3 percent in 2020, an increase from 2019.

The International Monetary Fund is expecting global GDP to grow by 3.3 percent in 2020, an increase from 2019, according to The Wall Street Journal.

In 2019, the global gross domestic product (GDP), grew 2.9 percent. However, on Monday the International Monetary Fund (IMF) released its quarterly update at the World Economic Forum in Davos Switzerland citing a prediction of increased growth.

”On the positive side, market sentiment has been boosted by tentative signs that manufacturing activity and global trade are bottoming out, a broad-based shift toward accommodative monetary policy, intermittent favorable news on U.S.-China trade negotiations, and diminished fears of a no-deal Brexit,” said the IMF.

In 2019, global trade growth decreased 1 percent, but the IMF expects this trend to reverse in 2020. However, the IMF noted that trade tensions might “undermine the nascent bottoming out of global manufacturing and trade, leading global growth to fall short of the baseline.”

The International Monetary Fund is expecting global GDP to grow by 3.3 percent in 2020, an increase from 2019.

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