UN Cuts Global Economic Growth Outlook For 2016 Amid Downward Revisions For Africa, Latin America

The United Nations on Thursday said it cut its forecast for global economic growth in 2016 by half a percentage point to 2.4 percent, largely due to downward revisions for Africa, the Commonwealth of Independent States (CIS) and Latin America.

In a new report entitled "World Economic Situation and Prospects 2016," the U.N. said it has lowered its forecast for growth of world gross product this year to 2.4 percent, the same as in 2015, from its December forecast of 2.9 percent.