Slow growth expected to continue next year: Schroders

London

THE world will continue to grow slowly in 2016, said Schroders chief economist Keith Wade, who is calling for a 2.5 per cent global gross domestic product (GDP) growth in 2016, downgraded from 2.9 per cent earlier.

The lower forecast is driven in part by slower US growth due to a stronger dollar. Meanwhile, economies around the world continue to refrain from borrowing and spending after the trauma of the global financial crisis in 2008-9, Mr Wade said.

"It might take another four to five years, with people saying, my balance sheet is mended now, and will g…