WASHINGTON (AP) — The steadily expanding global economy should remain resilient — at least for a couple of years — the World Bank says.
The anti-poverty agency predicts global growth will decelerate slightly from a solid 3.1 percent this year to 3 percent next year and 2.9 percent in 2020.
The world economy is generally healthy but must contend with rising interest rates in wealthier countries and weaker demand for commodities in developing nations. It also faces risks from trade disputes, financial volatility and geopolitical tensions.
The World Bank predicts that U.S. growth will register 2.7 percent in 2018, aided by tax cuts, before slowing to 2.5 percent next year and 2 percent in 2020.
China's growth is projected at 6.5 percent this year, 6.3 percent in 2019 and 6.2 percent in 2020.