World Bank: Pessimistic report on global growth


Most economists and agencies that track and forecast worldwide Gross Domestic Product see the recession moderating at the end of this year and growth returning to most regions in 2010. The World Bank doesn't agree.

New forecasts from the organization are for a 2009 global GDP contraction of 3 percent. Its forecast in March was more optimistic, predicting a drop of 1.75 percent.