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IMF trims UK economic forecast

The International Monetary Fund has trimmed its forecast for UK and global economic growth this year and next year. It predicts Britain will only expand by 1% in 2012-13, 0.1% less than previously predicted.

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IMF cuts economic growth forecast

The International Monetary Fund's World Economic Outlook update predicted that the global economy would grow 0.1% less than anticipated.

The global economy is now forecast to grown by 3.5% in 2013 and 4.1% in 2014.

Much of the reduction stemmed from a weaker outlook for the eurozone.

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