Updates from the world of economy, markets, and finance
Stocks have witnessed a rebound today after US President Donald Trump on Wednesday played down tensions with Iran. Oil has dropped as supply concerns wane.
World Bank trims 2020 growth forecast amid slow recovery for trade, investment
The World Bank on Wednesday trimmed its global growth forecasts slightly for 2019 and 2020 due to a slower-than-expected recovery in trade and investment despite cooler trade tensions between the United States and China.
The multilateral development bank said 2019 marked the weakest economic expansion since the global financial crisis a decade ago, and 2020, while a slight improvement, remained vulnerable to uncertainties over trade and geopolitical tensions.
In its latest Global Economic Prospects report, the World Bank shaved 0.2 percentage point off of growth for both years, with the 2019 global economic growth forecast at 2.4% and 2020 at 2.5%.
Advanced economies and emerging markets and developing economies also show divergent prospects in the World Bank forecasts. Growth in the United States, the euro area and Japan is expected to decline slightly to 1.4% in 2020 from 1.6% in 2019 — a markdown of 0.1 percentage point for both years — due to continued softness in manufacturing and the lingering negative effects of U.S. tariffs and retaliatory measures.
But emerging market economies are expected to see a pickup in growth to 4.3% in 2020 from 4.1% in 2019, although these are both a half percentage point lower than forecasts made in June. Reuters
Both the Sensex and the Nifty are up over 1% as the day begins:
Source: Read Full Article