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UNITED NATIONS: The United Nations on Thursday said global economic growth for 2016 would reach 2.4 percent, revising its forecast downward by 0.5 percentage points due to weaknesses in developed economies.In its world economic situation and prospects report, the United Nations said many countries in Africa, the former Soviet Union, Latin America and the Caribbean were being hit by low commodity prices.`Economic activity in the world economy remains lackluster, with little prospect for a turnaro
Without a revival in global investment, the world economy’s low growth trajectory is unlikely to change - United Nations World Economic Situation and Prospects report.
Lower oil prices, severe weather effects from El Nino, and political instability are contributing to 2016’s below-average showing, UN agency's report says
UN cuts global economic growth forecast for 2016 to 2.4% - This was because of downward revisions for Afrca, the Commonwealth of Independent States (CIS) and Latin America.
The United Nations lowered its forecast for the world economy on Thursday, painting a bleak picture of stagnating growth with little prospect for a turnaround this year.