World Bank cuts growth outlook

A frustratingly slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply cut its outlook for world growth this year.

The World Bank forecast that global gross domestic product will inch up 2.4 per cent this year, from 2.3 per cent last year. In its last forecast in June, the bank projected global growth would reach 3.0 per cent this year.

via Business feed http://www.scmp.com/business/economy/article/1129241/world-bank-cuts-growth-outlook