Are we on the brink of a global recession?

According to the IMF, lower global growth is forecast compared to last year, but is it time to panic? I hope not.

The International Monetary Fund's (IMF) World Economic Outlook (WEO) has predicted lower global growth compared to last year and has already caused some national news outlets to start warning of another global recession.

According to the IMF's latest figures, world economic growth will drop from 3.3 per cent to 3.1 per cent this year.

That is the lowest annual growth rate since 2009 and just a smidge over the three per cent level where economy watchers believe signals a global recession.

The fall was spurred on by weaker growth in emerging economies including China, and the impending rise in interest rates in the US.

Maurice Obstfeld, the IMF economic counsellor and director of the research department, said: "Six years after the world economy emerged from its broadest and deepest post war recession, the holy grail of robust and synchronised global expansion remains elusive.

"Despite considerable differences in country-specific outlooks, the new forecasts mark down expected near-term growth marginally but nearly across the board. Moreover, downside risks to the world economy appear more pronounced than they did just a few months ago,"Obstfeld added.

But is it time to start worrying about another recession?

The last thing we need is for those people controlling the purse strings to start getting all cautious again, especially when it appears budgets are being released for much needed IT investment across the board.

The IMF itself admits growth will go up to 3.6 per cent next year, so that is slightly further away from the dangerzone.

I must admit, the industry people I speak to seem to be pretty positive so far this year, but this could be because I'm a journalist and they don't want me sniffing around for a story!

Would be keen to hear any thoughts on this and whether anyone is concerned about a looming recession.