Global growth slowdown 'worrying': World Bank

Tokyo

THE slowdown in global economic growth is continuing to accelerate and, in the absence of more concerted policy counteractions, could turn into a downward spiral in activity, the World Bank warned on Tuesday.

Its bi-annual Global Economic Prospects Report downgrades its 2016 global growth forecast from the 2.9 per cent projected in January to 2.4 per cent, and it puts this down to the "sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade and diminishing capital flows".