The mid-year update of theWorld Economic Situation and Prospects forecasts growth of world gross product to accelerate slightly from 2.6 per cent in 2014 to 2.8 per cent in 2015—a downward revision by 0.3 percentage points from the forecast presented in the World Economic Situation and Prospects 2015 in January. In 2016, global growth is forecast to improve to 3.1 per cent. The report was launched today in New York by Pingfan Hong, Director of the Development Policy and Analysis Division (DPAD), UN/DESA; and Ingo Pitterle, Economic Affairs Officer, DPAD/DESA.