The International Monetary Fund on Wednesday lowered its US economic growth forecast for 2014 after severe winter weather in the first quarter delivered a sharp contraction.
The IMF projected that the world’s largest economy would grow a “disappointing” 1.7 per cent this year, after a 1.9pc expansion in 2013.
The forecast marked another downgrade from the IMF, which estimated US growth of 2pc for the year in mid-June, down from a 2.8pc estimate in April.
