As reported by Reuters, the World Bank is throwing up further warning signs of slowing growth across the globe for 2019, citing trade wars and geopolitical tensions as primary drivers of knocking 0.1% off of the entire planet’s income potential for the entire year.
Key quotes
“At the beginning of 2018 the global economy was firing on all cylinders, but it lost speed during the year and the ride could get even bumpier in the year ahead,” World Bank Chief Executive Officer Kristalina Georgieva said in the semi-annual Global Economic Prospects report.
Growth in the United States is likely to slow to 2.5 percent this year from 2.9 percent in 2018, while China is expected to grow at 6.2 percent in the year compared with 6.5 percent in 2018, according to the World Bank.
Emerging market economies are expected to grow at 4.2 percent this year, with advanced economies expected to grow at 2 percent, the World Bank said in the report.
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