While you were sleeping: World Bank downgrades outlook

Wed, 11 Jun 2014

By Margreet Dietz June 12 (BusinessDesk) - Wall Street fell with its upward momentum at least temporarily derailed by a bleaker global and US economic outlook from the World Bank and an unexpected defeat for a key member of the Republican Party’s leadership. The World Bank predicted the global economy will grow 2.8 percent this year, down from a forecast of 3.2 percent in January, because of poor weather in the US, financial market turbulence, and the Ukraine crisis. It kept its global growth forecast for 2015 at 3.4 percent. “The glob...

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