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World Bank: 2014 an Economic Turning Point

The global economy is bouncing back and will strengthen in 2014, according to the latest Global Economic Prospects report from the World Bank. Advanced economies are “turning the corner” and developing nations are strengthening after two years of weakness. The report forecasts the global economy to grow 3.2% this year, up from 2.4% in 2013 (with a note of caution that the outlook is, of course, sensitive to the Fed’s tapering of monetary stimulus).

With ten quarters of expanding GDP behind us, the US is seeing the most advanced recovery among high-income nations, which are projected to expand 2.2% this year, while developing nations will grow 5.3%, thanks in part to still strong (though moderating) growth in China.



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