Uncertainty over Brexit decision dims global growth forecast

The International Monetary Fund has cut its global growth forecast for the next two years, citing uncertainty over Britain's looming exit from the European Union. The IMF says it now expects global GDP to grow at 3.1 percent in 2016 and at 3.4 percent in 2017. That's a reduction of 0.1 percent for each year from estimates issued in April. The impact will hit Britain hardest. China's outlook remains largely unchanged, with a slight improvement to 6.6 percent for 2016, but still slowing to 6.2 percent in 2017. Nigeria is expected to slide into recession as its economy adjusts to foreign currency shortages, while South Africa is projected to remain flat in 2016.