In 2024, the World Bank projects that the world economy will contract for the third year in a row.

The World Bank predicts that the global economy will slow for the third consecutive year in 2024, growing by just 2.4%. This is due to high global interest rates, inflation, and a struggling Chinese economy. The World Bank projects slower growth for the U.S. as well, reducing it from 2.5% in 2023 to 1.6% in 2024. The World Bank's overall outlook is bleak, due in part to slowing global trade and rising tensions.

January 09, 2024
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