World Bank predicts modest economic growth in 2017

The World Bank said Sunday that global economic growth will continue to improve in 2017, partly due to manufacturing and trade developments.

2017’s global forecast of 2.7 percent growth is up three tenths of a percent from its 2016 estimate of 2.4 percent.

{mosads}The World Bank said the Earth’s advanced economies were appearing to improve, while emerging markets such as China, Russia, and Brazil were helping to drive growth.

Despite signs of growth and improvement, the bank warned of negative effects on countries such as Mexico, caused by trade restrictions, such as those being discussed within the Trump administration.

“Trade-restricting measures in the United States could trigger retaliatory measures,” the bank said in a statement to Reuters.

President Trump decided against pulling the U.S. out of the North American Free Trade Agreement (NAFTA) in April.