World Bank slashes global growth forecast to 2.4 percent

A worried World Bank slashed its growth forecast for the global economy today, saying advanced economies are rebounding more slowly than expected and low commodity prices continue to hurt other countries.

The Bank said that the global economy should grow at just 2.4 percent this year, the same lethargic pace of 2015 and much slower than the 2.9 percent it predicted in January.