World Bank cuts forecast for 2019 world economic growth to 2.9%
  • 5 years ago
세계은행, 2019년 세계 경제성장 전망치 2.9% 하향

For this year, slower growth is expected for the global economy.
The World Bank pointed to elevated trade tensions,... weakening manufacturing activity.... and growing financial stress in emerging markets as the key contriburing factors.
Seo Bo-bin has more on this forecast.
The World Bank is downgrading its 2019 outlook for the global economy.
According to its Global Economic Prospects report titled "Darkening Skies", the World Bank forecasts global growth to slow to two-point-nine percent in 2019, down from its previous three percent forecast in June.
If the forecast proves to be true,... 2019 would be the second straight year of global growth at three percent or below.
The bank has left its forecast for U.S. economy unchanged at 2.5 percent this year, down from 2.9 percent last year. China's economy is expected to grow by 6.2 percent, down from 6.5 percent in 2018.
With slowing external demand and rising borrowing costs, the growth outlook for emerging markets is expected to hold steady at a weaker-than-expected 4-point-2 percent this year.
"Starting this year, economic growth is beginning to slow down, especially in the U.S which had been growing on its own. China is also showing a slowdown after an economic structural policy change… With major countries slowing down, the overall world economy has switched over to a slower growth path."
The U.S slowdown comes as the impact of Trump's tax cuts fades. Meanwhile, China has to deal with unsustainable levels of debt following heavy spending to stimulate the economy after the 2008 financial crisis.
A number of other factors could act as a further brake on economic growth. The report says higher borrowing costs could lead to slower growth in many emerging markets and developing economies and trade tensions between China and the U.S could result in weaker global growth.
Seo Bo-bin, Arirang News.
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