The World Bank is indicating a slowdown in world economic growth

Compared to the downward revision of GDP growth last year, the World Bank indicates a further slowdown in world economic growth in its latest forecast, referring to the decline in world trade and industrial production, the sharpening of trade tensions, and financial turbulences in developing regions.

In its Global Economic Prospects, the World Bank lowered its estimate of last year’s global economic growth by 0.1 percentage point to 3.0 percent, compared to the June forecast. It also made a 0.1 percentage point drop this year and next year’s global economic growth forecast, which is 2.9 percent this year and 2.8 percent in 2020. (MTI)