The World Bank has revised its global economic outlook, projecting a 2.6% expansion for 2024, up from the previously estimated 2.4%. This growth is largely driven by the sustained economic performance of the United States, which is expected to grow by 2.5% this year. Despite this positive development, the World Bank has highlighted concerns about sluggish global growth, particularly in the face of rising trade barriers and ongoing conflicts in regions such as Ukraine and Gaza.
The U.S. economy experienced a slowdown in the first quarter of the year, expanding at a rate of 1.3%, attributed to temporary factors such as increased imports and reduced business inventories. However, consumer spending and business investment remained robust during this period.
