Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

Purveyor

(29,876 posts)
Wed Jan 6, 2016, 06:02 PM Jan 2016

World Bank Cuts Global Growth Forecast

Source: USA Today

The World Bank sharply lowered its global growth forecast for 2016 on Wednesday, predicting that emerging markets will struggle amid China's slowdown and the plunge in commodity prices.

The global economy is expected to grow 2.9% this year, largely because of gains in advanced nations, such as the U.S. That's an improvement from estimated growth of 2.4% in 2015 but down from its 3.3% forecast in June, the World Bank said.

"Stronger growth in advanced markets will only partially offset the risks of continued weakness in major emerging markets," said Ayhan Kose, director of the bank's development prospects group. "In addition, the risk of financial turmoil in a new era of higher borrowing costs remains."

The U.S. economy is expected to grow 2.7% this year following a 2.5% expansion in 2015, estimates that represent slight downgrades of 0.2 and 0.1 percentage points, respectively. The global troubles have hurt U.S. exports, and those effects have been accentuated by a strong dollar that makes them more expensive for overseas buyers. U.S. energy investment also has been clobbered by low oil prices.

Read more: http://www.usatoday.com/story/money/2016/01/06/world-bank-forecast/78354996/

2 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
World Bank Cuts Global Growth Forecast (Original Post) Purveyor Jan 2016 OP
I hope all read your timely post, Purveyor. Duval Jan 2016 #1
There is no reason why the US should generate any growth, internally or externally Proserpina Jan 2016 #2
 

Duval

(4,280 posts)
1. I hope all read your timely post, Purveyor.
Wed Jan 6, 2016, 06:16 PM
Jan 2016

This is but another bad sign for our economy and we should all take extra care to see that our IRA's, investments, etc. are protected to the maximum.

 

Proserpina

(2,352 posts)
2. There is no reason why the US should generate any growth, internally or externally
Wed Jan 6, 2016, 06:17 PM
Jan 2016

so don't expect this prediction to hold water.

Latest Discussions»Latest Breaking News»World Bank Cuts Global Gr...