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Global growth to fall to 1.3 per cent in 2001

Global growth will fall to 1.3 per cent in 2001 from 4 per cent in 2000, according to predictions from the Word Bank.

The World Bank is forecasting that East Asian output will only grow by 4.6 per cent in 2001, down from 7.3 per cent in 2000, while the Japanese economy will shrink by 0.8 per cent in 2001.

It believes the US and Asian slumps will extend the current world downturn by a further 9 months.

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