Global economy on track for worst decade since 1960s, World Bank warns
13 hours ago
- #global-growth
- #economy
- #trade-war
- Global economic growth is projected to be the weakest since the 1960s.
- President Donald Trump's trade war is a major factor slowing global growth.
- The World Bank downgraded its 2024 global GDP growth forecast to 2.3% from 2.7%.
- Trade tensions and tariffs are causing broad-based economic slowdowns worldwide.
- Fitch Ratings downgraded its outlook for global government bonds due to trade uncertainty.
- New U.S. tariffs on trading partners are set to take effect from July 9.
- U.S.-China trade negotiations are ongoing but remain fragile.
- Trade uncertainty is negatively impacting businesses and consumers globally.