- World bank cuts 2014 global growth forecast to 2.8% from 3.2% seen in January
- Says bad US weather, Ukraine crisis, china rebalancing, political strife among factors that have crimped growth prospects
- Predicts ‘disappointing’ 4.8% expansion in developing countries this year versus 5.3% forecast in January
- Sees advanced economies growing 1.9% this year versus 2.2% forecast in January, but says recovery gathering momentum
More:
- cut its growth forecast for the United States to 2.1% from 2.8% to account for the toll taken on growth by the weather at the start of the year
- World Bank expects growth to quicken later this year as richer economies continue their recovery. It kept its global growth forecasts for the next two years unchanged at 3.4% and 3.5%, respectively.
Headlines via Reuters and Bloomberg
