World Bank cuts 2025 global growth forecast to 2.3%, down 0.4%p

The World Bank has cut its global growth forecast for this year, citing the impact of escalating trade tensions.

It now expects the global economy to grow just 2-point-3 percent, down 0-point-4 percentage points from its January forecasts.

The Bank said this would mark the slowest pace since the 2008 financial crisis,.. apart from outright global recessions.

By country, the U.S. is projected to grow 1-point-4 percent this year, nearly 1 point lower than earlier forecasts, and half the pace of last year's 2-point-8 percent.

China's outlook holds steady at 4-point-5 percent, while the eurozone forecast was trimmed to 0-point-7 percent, down 0-point-3 points.