World economic growth 'set to slow'

A recession in Europe and weaker growth in India, Brazil and other developing countries is likely to slow global economic growth, the World Bank said.

In its annual report, the bank substantially cut its forecasts for growth in both developed and poorer nations. It now projects that the global economy will expand 2.5% this year and 3.1% in 2013, down from a June forecast of 3.6% growth for both years.