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11 Jun 2014
World Bank cuts global economic prospects
FXStreet (Bali) - A World Bank report was just published, downgrading the global growth outlook to 2.8% from 3.2% seen in January, citing weaker US and BRICs.
According to the World Bank, with headlines courtesy of Reuters/Bloomberg: "Says bad US weather, Ukraine crisis, china rebalancing, political strife among factors that have crimped growth prospects. Predicts ‘disappointing’ 4.8% expansion in developing countries this year versus 5.3% forecast in January. Sees advanced economies growing 1.9% this year versus 2.2% forecast in January, but says recovery gathering momentum."
Further headlines included: "Cut its growth forecast for the United States to 2.1% from 2.8% to account for the toll taken on growth by the weather at the start of the year. World Bank expects growth to quicken later this year as richer economies continue their recovery. It kept its global growth forecasts for the next two years unchanged at 3.4% and 3.5%, respectively."
According to the World Bank, with headlines courtesy of Reuters/Bloomberg: "Says bad US weather, Ukraine crisis, china rebalancing, political strife among factors that have crimped growth prospects. Predicts ‘disappointing’ 4.8% expansion in developing countries this year versus 5.3% forecast in January. Sees advanced economies growing 1.9% this year versus 2.2% forecast in January, but says recovery gathering momentum."
Further headlines included: "Cut its growth forecast for the United States to 2.1% from 2.8% to account for the toll taken on growth by the weather at the start of the year. World Bank expects growth to quicken later this year as richer economies continue their recovery. It kept its global growth forecasts for the next two years unchanged at 3.4% and 3.5%, respectively."