Omicron, Supply-Chain Troubles to Slow Growth, World Bank Says
WASHINGTON—The global economy is poised to slow down in 2022, the World Bank forecast Tuesday, citing the effects of the Omicron variant, supply-chain disruptions, labor shortages and the winding down of government economic support.
Those headwinds will slow economic growth to 4.1% in 2022, down from 5.5% last year, which was the strongest postrecession pace in 80 years, according to the World Bank’s semiannual Global Economic Prospects report.
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