World Bank to trim global growth outlook anew
David Malpass, World Bank President said the development lender will downgrade again its global growth outlook as trade and investment activities are decreasing.
“As we look at the data today, we will probably be looking at a further downgrade from our June downgrade,” said Malpass before the World Bank and International Monetary Fund annual meetings started.
In June, the World Bank cut its 2019 global growth prediction by 0.3% to 2.6%, quite similar to the 2016 level.
On Tuesday, the International Monetary Fund released a new growth forecast that marked its lowest since the 2008-2009 financial crisis, attributed to trade conflicts.