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IMF says global economic slowdown is worsening

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The International Monetary Fund delivered some news the world did not want to hear: It’s cutting its global growth forecast for the second time since April. The forecast now puts 2012 growth at 3.3 percent, down from 3.5 percent in July. The last time growth was that slow was 2009. Any momentum in advanced economies is the result of efforts by central banks only, but still too slow to create jobs. The In July, IMF downgraded its forecast for 2013 from 4.1 percent to 3.9 percent.