Bank Downgrades Global Growth for 2016 - Commodity Exporters are Expected to Grow 5.4% Less than Importers

The World Bank released its economic growth outlook for 2016 Tuesday, reducing its expectations from earlier this year. The bank anticipates global economic growth of 2.4%, down from 2.9% in January. 40% of that downward revision is due to commodity-exporting emerging markets and developing economies which are “[struggling] to adapt to lower prices for oil and other key commodities,” the bank said.

Emerging markets and developing ...

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