Global Economy ‘Perilously Close’ to Recession, World Bank Warns

Global Economy ‘Perilously Close’ to Recession, World Bank Warns
A participant stands near a logo of the World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, on Oct.12, 2018. Johannes P. Christo/Reuters
Andrew Moran
Updated:
The global economy will come “perilously close” to slipping into a recession this year, the World Bank warned in its latest semi-annual report.

The international lender slashed its global economic growth forecast by close to half, to 1.7 percent, led by slowing growth in the world’s top economies of the United States, Europe, and China. This estimate is down from its previous prediction of 3 percent six months ago.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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