The World Bank lowered its global economic outlook for 2015 on Tuesday, despite the recent drop in oil prices. The World Bank now estimates that the global economy will grow three percent this year, down from its June prediction of 3.4 percent growth.
Reuters reports that "disappointing economic prospects in the euro zone, Japan, and some major emerging economies" are responsible for the lower growth forecast.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
DHS chief Kristi Noem's purse stolen from eaterySpeed Read Homeland Security Secretary Kristi Noem's purse was stolen while she dined with family at a restaurant in Washington, D.C.
-
Harvard sues Trump over frozen grant moneySpeed Read The Trump administration withheld $2.2 billion in federal grants and contracts after Harvard rejected its demands
-
Trump tariffs place trucking industry in the crosshairsIN THE SPOTLIGHT As the White House barrels ahead with its massive tariff project, American truckers are feeling the heat from a global trade war
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
