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11 Jun 2014
The global economy would grow less this year – Danske Bank
FXStreet (Edinburgh) - Morten Helt, Senior Analyst at Danske Bank, said the World Bank revised lower its global growth forecasts.
Key Quotes
“The World Bank yesterday cut its global growth forecast to 2.8% for the year, from its 3.2% forecast in January, as bad weather in the US along with the Ukraine conflict will weigh on global economic growth this year”.
“The outlook for US growth was revised down to 2.1% from previously 2.8%, while the euro area remains on target to grow by 1.1%”.
“However, despite first quarter weakness in the US, the recovery in high-income countries is gaining momentum and the bank still expects the global economy to pick up speed in the coming years with global growth strengthening to 3.4% and 3.5% in 2015 and 2016”.
Key Quotes
“The World Bank yesterday cut its global growth forecast to 2.8% for the year, from its 3.2% forecast in January, as bad weather in the US along with the Ukraine conflict will weigh on global economic growth this year”.
“The outlook for US growth was revised down to 2.1% from previously 2.8%, while the euro area remains on target to grow by 1.1%”.
“However, despite first quarter weakness in the US, the recovery in high-income countries is gaining momentum and the bank still expects the global economy to pick up speed in the coming years with global growth strengthening to 3.4% and 3.5% in 2015 and 2016”.