The World Bank, citing stagnation in Europe and Japan and a slowdown in China, downgraded its forecast for the global economy this year. It also reported that world economic growth came in below expectations in 2014.The bank predicts the world economy will expand 3 percent this year, up from 2.6 percent in 2014. Last June, World Bank economists had forecast 3.4 percent global economic growth this year and 2.8 percent last year.”The recovery has been sputtering in the Euro Area and Japan as legacies of the financial crisis linger … China, meanwhile, is undergoing a carefully managed slowdown,” the bank …read more
Source: The Jakarta Post
