Trade, manufacturing to boost 2017 global growth: World Bank

Advanced economies are showing signs of improvement; emerging markets driving growth

The World Bank on Sunday maintained its forecast that global growth will improve to 2.7 per cent this year, citing a pickup in manufacturing and trade, improved market confidence and a recovery in commodity prices.

The update of the multilateral development lender’s Global Economic Prospects report marked the first time in several years that its June forecasts were not reduced from those published in January due to rising growth risks.

The World Bank’s 2017 global growth forecast of 2.7 per cent compares to its 2.4 per cent estimate for 2016, a figure that was increased by a tenth of a percentage point