UN warns global economy to struggle with 2.2% 'stagnant growth' in 2013

A new United Nations economic report has warned the global economy is still struggling to return to a strong and sustained growth path with a stagnant rate of 2.2% output expected in 2013.

The UN Conference on Trade and Development (UNCTAD) issued a statement of slow growing global economy even after five years of the Great Recession, News.com.au reports.

According to the report, the world output rate in 2012 was 2.2%, and has been forecasted to remain the same in 2013.

The report further added that the developed countries are expected to show just one% increase in gross domestic product.

While developing and transition economies are likely to grow by almost five% and three% respectively.