The World Bank downgraded its global growth outlook to the weakest pace in three years, citing downturn in investment and a decade-low growth in trade, amid escalating disputes.
Global growth is forecast to ease to 2.6 percent this year, reflecting weaker-than-expected trade and investment, the lender said in its semi-annual Global Economic Prospects report, released Wednesday.
Growth is projected to gradually rise to 2.7 percent in 2020 and to 2.8 percent in 2021, assuming that benign global financing conditions and a moderate recovery in emerging market and developing economies will continue.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.