World Bank cut global growth forecast
World Bank reduced its global economic growth forecast for 2013 from 2.4% in January to 2.2% and for 2014 – from 3.1% at the beginning of the year to 3.0%.
According to the organization, global economy remains ‘hesitant and uneven’. World Bank cut China 2013 GDP growth forecast from 8.4% to 7.7%, while the estimate for the euro area was trimmed from -0.1% to -0.6%. Japanese outlook, on the other hand, was increased from 0.8% to 1.4%.