IMF: Modest economic growth in 2013

The IMF forecast for the U.S. dipped by 0.1 percent since its October projection, and is lower than the 2.3 percent growth the country had in 2012. U.S. growth is expected to be more robust in 2013, at 3 percent. 

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The projected U.S. growth, the IMF says, is also based on the idea that the looming sequester cuts will be “replaced by back-loaded measures.”

Meanwhile, the IMF said the euro zone, and prospects of continuing stagnation there, could be a drag on the entire global outlook. The current Japanese stimulus plan, the group added, could backfire, and Japan should also craft a consolidation plan. 

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