World Bank Lowers Global Growth Forecast
The World Bank tempered its predictions for global economic growth in 2015, revising its prediction to 3% global growth from June's 3.4% figure. The US was one of few bright spots in a report that touched on stagnation in Japan and building jitters, again, about a frail Europe. In 2014, the world economy grew at a 2.6% clip.
Breaking prognostications down by region, the bank sees the American economy enjoying a 3.2% surge compared to the 19-nation Euro Zone's 1.1% uptick and Japan's 1.2% growth. Despite concerns about a Chinese slowdown, the World Bank foresees 7.1% growth there this year, down from last year's 7.4% increase. Prominent risks to growth across the board include surging political instability in areas like the Ukraine and public health crises along the lines of the Ebola outbreak.
