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14 Jan 2015
World Bank cuts global growth again – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team shares that World Bank lowered its global GDP target, now forecasting global growth at 3.0% in 2015 from previous estimate of 3.4%, further warning that global trade might weaken if either Japan or euro area falls into a recession.
Key Quotes
“Report out of the World Bank estimated 2014 GDP growing by 2.6%, up from 2.5% in 2013 but below 2.8% forecast made in June. WB also lowered 2015 GDP target to 3.0% from 3.4% and 2016 target to 3.3% from 3.5%, adding that risks to slow recovery are tilted to downside, and also warning global trade may weaken further if euro area or Japan slip into recession.”
“On China, WB noted growth is expected to slow below 7% by 2017 from 7.4% in 2014, also cutting 2015 China forecast to 7.1% from 7.5% and 2016 to 7.0% from 7.4%.”
“US GDP for 2015 was raised to 3.2% from 3.0% and 2016 affirmed at 3.0%.”
Key Quotes
“Report out of the World Bank estimated 2014 GDP growing by 2.6%, up from 2.5% in 2013 but below 2.8% forecast made in June. WB also lowered 2015 GDP target to 3.0% from 3.4% and 2016 target to 3.3% from 3.5%, adding that risks to slow recovery are tilted to downside, and also warning global trade may weaken further if euro area or Japan slip into recession.”
“On China, WB noted growth is expected to slow below 7% by 2017 from 7.4% in 2014, also cutting 2015 China forecast to 7.1% from 7.5% and 2016 to 7.0% from 7.4%.”
“US GDP for 2015 was raised to 3.2% from 3.0% and 2016 affirmed at 3.0%.”