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World Bank cuts forecast for world economic growth in 2019

first_imgWASHINGTON — The World Bank is downgrading its outlook for the global economy this year, citing rising trade tension, weakening manufacturing activity and growing financial stress in emerging-market countries.The anti-poverty agency expects the world economy to grow 2.9 per cent in 2019, down from the 3 per cent it forecast back in June. It would be the second straight year of slowing growth: The global economy expanded 3 per cent last year and 3.1 per cent in 2017.The bank left its forecast for the U.S. economy unchanged at 2.5 per cent this year, down from 2.9 per cent in 2018. It predicts 1.6 per cent growth for the 19 countries that use the euro currency, down from 1.9 per cent last year. For China, the world’s second-biggest economy, it expects 6.2 per cent growth versus 6.5 per cent in 2018.Paul Wiseman, The Associated Presslast_img

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