IMF cuts US growth forecast to 3.1% in 2015, but remains hopeful of robust performance

WASHINGTON (AFP) - The International Monetary Fund cut its outlook for US growth on Tuesday to 3.1 per cent for 2015 and 2016, but said the country will remain the driver of the global economy.

A downturn through the first quarter of the year revealed continuing weaknesses that have trimmed expectations for the world's largest economy.

Even so, the IMF said, the US economy has remained resilient to weaker external conditions and the surging dollar.

"Consumption - the main engine of growth - has benefited from steady job creation and income growth, lower oil prices, and improved consumer confidence." "Conditions remain in place for robust US economic performance in 2015," the IMF said in its semi-annual World Economic Outlook.