The International Monetary Fund has said that the global economic recovery is still at risk, and eurozone economies remain in a precarious situation. In its updated World Economic Outlook, which is published twice each year, the Washington-based lender said a delayed or insufficient response from European leaders to the crisis would further derail the recovery. Although the IMF's prediction for world output this year – as measured by gross domestic product – was little changed at 3.5% it downgraded its forecast for global growth for 2013 to 3.9% from the 4.1% prediction it made earlierl. One of the biggest downward revisions is for the UK, now expected to grow by 1.4% in 2013 instead of two per cent predicted earlier. The forecast for growth in 2012 has also been reduced for the UK, down to 0.2% from 0.8 per cent..