Lewis Diuguid

The global economic conditions are not so good

While good news about the economy keeps roaring out of the United States, the International Monetary Fund is predicting a slowdown on the horizon.

It feels like the public is in a new “Jaws” sequel with one set of authorities saying it’s safe to wade back in the shopping waters and spend while another set of authorities keep saying the monster shark of the Great Recession is still lurking, still waiting, still hungry and eager to be fed.

The IMF is predicting for 2013-2014 a global scale back. China’s economy will top off, Europe’s recession will worsen and the anemic U.S. expansion will weaken, The Associated Press reports. No good news there.

Global growth will be 3.1 percent in 2013, the same as 2012. But it will be less than the 3.3 percent forecast in April. The IMF reduced its 2013 projection for the U.S. to 1.7 percent growth from 1.9 percent in April.

Happy days may take a while to fully materialize.