Tue, 10 Jun 2025

Tue, 10 Jun 2025 World Bank predicts worst decade for global growth since 60s

The US, Japan and the euro area are all expected to have lower growth as Trump's tariffs bite.

* The World Bank predicts the global economy will experience its slowest decade since the 1960s, due to the effects of Donald Trump's tariffs.
* Growth forecasts have been cut for nearly two thirds of countries worldwide, compared to six months ago.
* The bank expects global growth to be only 2.3% in 2025 and 2.6% in 2027, down from previous predictions.
* Japan, Europe, and the US were among those with their growth forecasts downgraded.
* The World Bank attributed the decline in growth to trade tensions, investor confidence, and private consumption.
* China's economy is expected to be more resilient due to its financial stability.
* The bank warned that further tariffs could lead to a global economic downturn, including rising inflation and a possible recession.
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