Wednesday 20 September 2017

World Bank forecasts 2.7% growth in 2017

The World Bank forecast 2.2% growth in the US, up from an estimated 1.6% last year
The World Bank forecast 2.2% growth in the US, up from an estimated 1.6% last year

The World Bank has forecast that the global economy will accelerate slightly in 2017 after turning in the worst performance last year since the 2008 financial crisis.

Global growth should expand at a 2.7% annual rate this year, the 189-nation lending agency said.

That is down from the bank's June forecast for 2.8% growth this year, but it is better than last year's 2.3% growth.

The global economy faced a number of headwinds last year, from economic troubles in China to bouts of financial market turmoil.

World Bank president Jim Yong Kim said: "We are encouraged to see stronger economic prospects on the horizon."

The World Bank forecast 2.2% growth in the United States, up from an estimated 1.6% last year.

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