Economics
World Bank Raises Outlook as Growth Hits Fastest Pace Since 2011
- Broad recovery driven by investment, manufacturing pickup
- Risks remain tilted to downside, development lender warns
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The World Bank lifted its forecast for global growth, predicting the global recovery will continue to gain steam after reaching the fastest clip in six years.
The development lender raised its estimate for global economic growth for this year to 3.1 percent, up 0.2 percentage point from an estimate in June, it said Tuesday in its latest Global Economic Prospects report. The world economy probably expanded 3 percent last year, which would be the fastest pace since 2011.