FAIRFIELD-SUISUN, CALIFORNIA

Business and Real Estate

World Bank cuts global economic forecast for 2014

By From page B9 | June 11, 2014

WASHINGTON — The World Bank downgraded its forecast for the global economy this year, citing a bitter American winter and the political crisis in Ukraine.

In an outlook released Tuesday, the bank still expects the world economy to grow faster – 2.8 percent this year versus 2.4 percent in 2013. But its new estimate is weaker than the 3.2 percent expansion it had predicted in January.

The U.S. economy — by far the world’s largest — shrank at an annual rate of 1 percent from January to March, chilled by an unusually nasty winter. The political crisis in Ukraine dragged growth in Eastern Europe and Central Asia. Together, those factors will “delay the recovery we talked about in January but not derail it,” World Bank economist Andrew Burns told reporters.

 

The Associated Press

The Associated Press

LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Please read our Terms of Service and Privacy Policy before commenting.

  • Recent Articles

  • Enter your email address to subscribe and receive notifications of new posts by email.

  • Special Publications »

    Use of this site constitutes acceptance of our Terms of Service (updated 4/30/2015) and Privacy Policy (updated 4/7/2015).
    Copyright (c) 2015 McNaughton Newspapers, Inc., a family-owned local media company that proudly publishes the Daily Republic, Mountain Democrat, Davis Enterprise, Village Life and other community-driven publications.