Reported about 1 year ago
The World Bank released its latest Global Economic Prospects report on June 11th, revising upwards its global economic growth rate expectations for this year compared to the January forecasts. While the U.S. economic growth rate has been significantly revised upwards, the World Bank warns that global economic momentum still lags behind pre-COVID levels. The report indicates a projected global GDP growth rate of 2.6% for 2024, with the U.S. economy forecasted to grow at 2.5% this year. The World Bank cautions that if the high-interest-rate environment persists longer than expected, global economic growth rates may be suppressed, with low-income developing countries facing particular challenges as their growth prospects remain below pre-pandemic levels.
Source: YAHOO