The International Monetary Fund (IMF) has lowered its forecast for global economic growth.

This is the third downward revision in nine months, and concerns about a global economic slowdown are likely to grow further.

The International Monetary Fund (IMF) said the global economic growth this year was 3.3 percent in the World Economic Outlook.

It was 0.2 percent lower than the forecast three months ago.

The IMF maintained its forecast of 3.9 percent until July of last year, but it has stepped down by 0.2 percentage point from 3.7 percent in October to 3.5 percent in January.

However, the growth forecast for next year was 3.6%.

The IMF announces economic growth forecasts for each country twice a year in April and October each year. In addition, the IMF updates forecasts for major countries in the revised report.

The IMF said, "The global economy showed strong growth until the beginning of last year, but economic activity sharply decreased in the second half of last year." The risk factors were the slowing of China and eurozone, global trade conflict and financial market uncertainty.

The growth rate of advanced economies fell from 2.0% to 1.8%.

The US, the largest market in the world, posted a 2.3 percent gain, down 0.2 percentage points from the previous year.

Although it has lowered its level of eyesight, it is a much higher figure than the 1% growth rate of other developed economies such as Eurozone, Japan and Canada.

It is higher than the Fed's forecast for growth this year (2.1 percent).

The eurozone was revised down from 1.6% to 1.3%, Japan's 1.1% to 1.0% and Canada's 1.9% to 1.5%.

In particular, Germany's growth forecast for Europe's economy was cut by 0.5 percentage points from 1.3 percent to 0.8 percent.

The IMF said, "Germany reflected the decline in car production as it introduced new emissions regulations."

Britain's growth forecast, which fell on the controversial issue of Brexit, was also down 0.3 percent, from 1.5 percent to 1.2 percent.

Growth prospects for emerging economies were down 0.1 percentage point to 4.4 percent from 4.5 percent.

In Brazil, growth was revised down by 0.4 percentage points (2.5 to 2.1 percent), Mexico to 0.5 percent (2.1 to 1.6 percent) and India to 0.2 percent (7.5 to 7.3 percent).

For China, which is implementing strong economic stimulus measures, it offered a 6.3% growth rate, 0.1% higher than the previous year.

For Korea, it remained at 2.6%, which is the same as last year's forecast.

IMF chief economist Kitoppinat said in a press conference that "the delicate moment of the global economy" and "that 70 percent of the world's economies will suffer slowing growth this year."

Gopinat added that "downside risk" remains in all parts of the country, but it is expected to recover in the second half of this year due to the monetary policy and fiscal stimulus of major economies.

"The world recession is not at the point of reference," he said.

In particular, the recovery signal of the Chinese economy is already showing up.

"If the major risk factors come true, the current economic recovery may be delayed," he said. "We should pay special attention to policy makers to avoid costly policy mistakes."

Above all, the IMF cited trade conflicts triggered by the US administration as a major risk for global growth slowdown.

In relation to this, the global trade volume (goods and services) growth rate was lowered by 0.6 percentage points from 4.0% to 3.4%.

In January, it was down 0.6 percentage points.

However, it expects the rate of increase in trade volume to rise again to 3.9% next year.

"If global trade conflicts are resolved in the near future, they will be very favorable to the global economy," the IMF said. "There is a risk that additional trade conflicts and policy uncertainties will put more pressure on the world economy."

"If the uncertainties of the US and China trade are resolved on a permanent basis, it will have a very positive effect on global growth," said Gopinat Chief Economist.

(yunhap news)