World Bank cuts global growth forecast for 2016 and 2017

By FXStreet FXStreet (Córdoba) – The World Bank lowered forecasts for global growth for 2016 and 2017 on Wednesday, citing deeper contractions than expected in emerging markets and weaker output in US, China and Japan.

The institution lowered global growth in 2016 to 2.9% from 3.3%. That is up slightly from last year’s revised growth rate of 2.6%.

The World Bank said US gross domestic product would expand 2.7% in 2016, from 2.9%s previous forecast. It also cut its outlook slightly for China to 6.7% (from 7%), the slowest growth rate since 1990.
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Source:: FX Street