The economic turmoil in China and a fall of commodity prices worldwide have taken a toll on the wider economy. The International Monetary Fund on Tuesday revised its growth forecast for this year downwards from 3.3 to 3.1 percent.
The International Monetary Fund has said it believes in an even broader economic upswing globally in the years ahead. The lender's latest revision of its quarterly growth outlook also bodes well for the eurozone.
Despite growing tendencies towards protectionism and some political uncertainty, the World Bank sees a positive outlook for the world economy in 2017 and beyond. But the UK's election is its next challenge.
The International Monetary Fund (IMF) has left its global growth forecast unchanged, but warned the global economy is failing to break out of its decade-long low-growth trap despite signs of stability.
The German government has raised its growth outlook for 2017. It said strong domestic consumption would increase growth and bring down a much-criticised trade surplus logged by Europe's powerhouse for years on end.
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