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IMF cuts emerging market estimates

  • The IMF sees emerging market economic growth of 4.5% in 2013, down from a 5% estimate three months ago. 2014 growth is seen at 5.1%, down from 5.5% three months ago. Estimates for developed countries are unchanged - 1.2% in 2013 and 2% next year.
  • The agency cites tightening capacity constraints, flat or falling commodity prices, less policy support, and slowing credit as the reasons for cutting its emerging market forecast.
  • India suffers a particularly steep cut, now expected to grow just 3.8% in 2013 from an earlier estimate of 5.6% (that "pros" can be so far off in just 3 months speaks to the value of this stuff), and 5.1% next year from 6.2%.
  • Needless to say, IMF chief economist Olivier Blanchard issues a stark warning about the U.S. budget showdown.
  • The IMF World Economic Outlook.
  • EM equity ETFs: AGEM, EEM, ADRE, SCHE, GMM, VWO, DEM, EWEM, PXH, PIE, EWX, DGS, EMLB, EDC, EET, EMSA, EDZ, EEV, EUM, TLTE, HILO, EELV, EEMA, EMFT, DVYE, FEMS, EVAL, EGRW, EMCR, IEMG, EMDR, EEME.
  • India ETFs: INDY, EPI, PIN, INP, INDA, INXX, SCIF, SCIN, INDL, SMIN.
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