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Omicron, Supply-Chain Troubles to Slow Growth, World Bank Says
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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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