By Jonathan Davies

The International Monetary Fund (IMF) has cut its forecast for the global economy after a slowdown in the US economy.

The IMF now says the global economy will grow by 3.3% in 2015, rather than 3.5% it previously expected.

The organisation said "an unexpected output contraction" in the US was causing a drag on the world's growth prospects. The US economy contracted 0.2% in the first quarter of 2015 after a particularly bad winter.

Despite the ongoing crisis in Greece, the eurozone is still expected to grow by 1.5% this year, with Greece only having a marginal effect.