World Bank Cuts Economic Growth Outlook

• The World Bank said that the global expansion will accelerate slightly to 2.5% in 2020, down from a previous 2.7% projection.
• In its latest Global Economic Prospects report released on Wednesday, the lender warned that conditions remain fragile as it cut estimates for growth in 2020 and 2021 and lowered the euro area and China estimates for this year.
• The outlook for a shaky recovery follows a year in which faltering trade and investment dealt the world its weakest growth since the global financial crisis. The bank warned that the scenario depends on much going right, an outcome that may be less likely should tension between the U.S. and Iran continue to flare.

(Source: Bloomberg)