Economics
World Bank Cuts Global Outlook as Trade Tumbles to Decade Low
- Bank forecasts world economy will expand 2.6% in 2019
- World Bank also revises global trade down by percentage point
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The World Bank 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, the bank said in its twice-yearly Global Economic Prospects report released Tuesday. The pace will pick up to 2.7% next year.