What is the latest on the state of the global economy?
- by admin
New data from the World Bank has shown that while the US economy expanded by 2.7% in the third quarter, the global one slowed slightly, which was “the slowest pace in nearly a decade.”
In a report released Wednesday, the bank said that while “global growth remained strong” during the third and fourth quarters of the year, the US’s GDP was “barely moving forward.”
The growth figures were a “surprise” to many economists, but a sign of how badly things are falling out of favor for President Donald Trump.
In the past, the administration has been accused of doing little to rein in the economy after a period of high unemployment, low wages and soaring inflation.
It is unclear what the Trump administration will do about the slow pace of growth in the coming months.
The data showed that the US gained 0.2 percentage points in the second quarter, while the global economic picture was a bit worse.
“This suggests that there may be some progress on some aspects of the economic picture,” the World Trade Organization said in a statement, adding that there is still “significantly high levels of inflation.”
New data from the World Bank has shown that while the US economy expanded by 2.7% in the third quarter,…