WB lowers global growth forecast to 2.8%

摘要

World Bank has lowered its global growth outlook for 2014-15 to 2.8% against 3.2% estimated earlier. This is due to the weakening of major economies. WB has lowered the growth forecast for the US to 2.1% (2.8%), China to 7.6% (7.7%), Japan to 1.3% (1.4%), India to 5.5% (5.7%) and the Euro area affirmed at 1.1%. The US GDP is expected to rebound to 3% in the next two years, while Euro area GDP is seen at 1.8% in 2015 and 1.9% in 2016. For 2015-16 and 2016-17, the World Bank forecasts India's economic growth at 6.3% and 6.6% respectively.