WASHINGTON —The World Bank is forecasting the global economy will accelerate slightly in 2017 after turning in the worst performance last year since the 2008 financial crisis.
The 189-nation lending agency said Tuesday that the global growth should expand at a 2.7 percent annual rate this year. That is down from the bank’s June forecast for 2.8 percent growth this year, but it’s better than last year’s 2.3 percent growth.
The global economy faced a number of headwinds last year, from economic troubles in China to bouts of financial market turmoil.
“We are encouraged to see stronger economic prospects on the horizon,” said World Bank President Jim Yong Kim.
The World Bank’s Global Economic Prospects report projects 2.2 percent growth in the United States, up from an estimated 1.6 percent in 2016.
The U.S. forecast for 2016 is lower than the June projection of 1.9 percent growth, while the outlook for this year is unchanged.
In the years since the 2008 financial crisis, the World Bank and the International Monetary Fund have both repeatedly proved too optimistic in their forecasts.
Comments are not available on this story. Read more about why we allow commenting on some stories and not on others.
We believe it's important to offer commenting on certain stories as a benefit to our readers. At its best, our comments sections can be a productive platform for readers to engage with our journalism, offer thoughts on coverage and issues, and drive conversation in a respectful, solutions-based way. It's a form of open discourse that can be useful to our community, public officials, journalists and others.
We do not enable comments on everything — exceptions include most crime stories, and coverage involving personal tragedy or sensitive issues that invite personal attacks instead of thoughtful discussion.
You can read more here about our commenting policy and terms of use. More information is also found on our FAQs.
Show less