No recession yet due to trade war, IMF says in extremely uncertain spring forecast

The global economy will not enter a recession this year due to the trade war, but will take a big hit. The United States also avoids a recession.

The IMF is preparing to publish significantly revised downward world growth forecasts, a direct consequence of the US trade war and Chinese and European reprisals. Its director Kristalina Georgieva, however, dismisses the recession scenario, but warns about the increased risks to the most vulnerable economies and calls for structural reforms and enhanced cooperation.