Global Growth Set to Ebb as Expansion Shows Age, World Bank Says
- Momentum seen fading as global economy approaches capacity
- Risks include tighter credit and protectionism: World Bank
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Global growth is set to slow over the next two years as central banks raise borrowing rates and U.S. fiscal stimulus starts to fade, the World Bank said.
The world economy will grow 3.1 percent this year and 3 percent in 2019, the development lender said Tuesday in its latest Global Economic Prospects report. Both forecasts were unchanged from January, the last time the Washington-based bank updated its projections. About half the world’s economies are accelerating, underscoring the breadth of the upswing.