The World Bank has lowered its global GDP growth forecast for 2025 to 2.3%, the lowest level in five years.

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On July 6, the World Bank lowered its forecast for global GDP growth in 2025 by 0.4 percentage points to 2.3%, the lowest level in five years. This will be the weakest growth in 17 years, excluding 2008 and 2020. Additionally, the U.S. economy is expected to grow by 1.4% this year, down from the earlier forecast of 2.3%. The average global economic growth rate for the first seven years of this century is expected to be 2.5%, the slowest decade since the 1960s. Overall, the World Bank has downgraded forecasts for about 70% of economies, indicating that the global economic outlook is deteriorating. (The Kobeissi Letter)

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