World Bank downgrades its forecast for 2016 global economy

Warning sign

A woman walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Wednesday, June 8, 2016. Asian stocks were mostly lower Wednesday after the World Bank cut its global growth forecast and investors looked ahead to Chinese trade data. (AP Photo/Eugene Hoshiko)

PAUL WISEMAN – June 11, 2016

WASHINGTON (AP) — The World Bank is reducing its forecast for the global economy this year — again.

The aid agency predicted Tuesday that the world economy will expand 2.4 percent this year, down from the 2.9 percent it expected in January and unchanged from a tepid 2015.

“The global economy is fragile,” said World Bank economist Ayhan Kose, who helped produce the forecast. “Growth is weak.”

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