World Bank adjusts forecast for global economic growth

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World Bank adjusts forecast for global economic growth

The World Bank slightly tweaked this year’s global economic growth outlook citing slowing trade, shrinking corporate investment and policy uncertainties.

On Tuesday, the World Bank radjusted this year’s global growth from 2.8 percent projected in June to 2.7 percent.

The global institution said this year, the global communities’ policy uncertainties have grown due to the U.S. election upset and Brexit vote last year. Additionally the rise in U.S. interest rates has deepened anxiety on the global market.

Possibly expanding trade protectionism, the slowing potential growth rate and the vulnerability of emerging markets are also risks.

In fact, the World Bank lowered the economic growth of developed economies including the U.S., Eurozone and Japan 0.1 percentage point to 1.8 percent. Emerging economies including China and Russia were lowered 0.2 percentage points to 4.2 percent. The U.S. economic growth projection remained unchanged at 2.2 percent as was China’s at 6.5 percent.

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