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International trade and manufacturing activity have softened, trade tensions remain elevated, and some large emerging markets have experienced substantial financial market pressures, it said. The World Bank said growth among advanced economies is forecast to drop to two per cent this year. Slowing external demand, rising borrowing costs, and persistent policy uncertainties are expected to weigh on the outlook for emerging market and developing economies.

World bankDistrict of columbiaUnited statesShantayanan devarajanAyhan koseCeyla pazarbasiogluWorld bank groupDevelopment economics vice presidencyWorld bank group viceWorld bank onWorld bank prospects groupBank prospects group director ayhan koseGlobal economicWorld bank group vice presidentEquitable growthLatest business news