Adam had the headline forecasts from the World bank earlier: World Bank cuts 2015 global growth forecast to 3.0% from 3.4%
Some more elaboration now from the Wall Street Journal (gated): World Bank Lowers Outlook for Global Economic Growth
Bolding is mine:
- World Bank cut its outlook for global growth …. saying a strengthening U.S. economy and plummeting oil prices won’t be enough to offset deepening trouble in the eurozone and emerging markets
- Tumble in oil has bolstered the U.S. recovery by giving consumers more money to spend
- Kaushik Basu, the World Bank’s chief economist, said the global economy is being pulled by a single engine—the U.S. economy. “This does not make for a rosy outlook for the world,” he said. “It is really not enough.”
- Cut its outlook for the world’s second-largest economy, China, to 7.1% for the year, down from its last forecast for growth of 7.5%
