IMF downgrades global economic outlook

The third time is not a charm. The International Monetary Fund cut its global economic growth estimates for the third time this year, warning of slower growth in core eurozone areas, Japan and in big emerging markets like Brazil.

IMF Chief Economist Olivier Blanchard:

SOUNDBITE: OLIVIER BLANCHARD, CHIEF ECONOMIST, INTERNATIONAL MONETARY FUND (ENGLISH) SAYING:

"The recovery continues but it is weak and it is uneven."

The new data, which roiled stock markets on Tuesday, showed the overall expansion forecast down to 3.3 percent for this year and 3.8 percent in 2015, dragged lower by weakness in some key economies.

The United States showed a slight improvement, while the advanced economies remained unchanged to lower. China, a key driver for the global economy,- showed tepid growth.

S&P Dow Jones's Howard Silverblatt:

SOUNDBITE: HOWARD SILVERBLATT, SENIOR INDEX ANALYST, S&P DOW JONES INDICES (ENGLISH) SAYING:

"China which is having difficul