The World Bank has lowered its forecast for global economic growth this year citing the impact of the war in Ukraine, World Bank President David Malpass said on Monday.The global growth outlook was reduced to 3.2 percent from 4.1 percent, Malpass told reporters in a conference call. The downgrade largely reflects the weaknesses seen in Europe and central Asia, which cover Russia and Ukraine, he sa...
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.