World Bank downgrades global economic growth for 2019
(VOVWORLD) - The World Bank has cut its 2019 global growth forecast, citing a slowdown in trade growth to the weakest since the financial crisis a decade ago and a drop in global investment.
The bank forecast that the world economy will expand 2.6% this year, compared with a projection of 2.9% it made in January and easing from an estimated 3% last year. It downgraded its forecast for the euro area to 1.2% this year. The bank left this year’s outlooks for the US and China unchanged. US economic growth is seen slowing to 2.5%, and further decelerating to 1.7% next year and 1.6% in 2021. China’s economy is expected to expand by 6.2% this year.