Citi Research has once again cut its global growth forecast through the end of 2016. In a new report, analyst Willem Buiter explained why Citi’s outlook has become bleaker in recent months and what Citi’s latest projections mean for global investors.

The Numbers

Citi’s latest projections call for only 2.6 percent global growth in 2015, down from the 2.7 percent projection the firm issued a month ago. In addition, Citi’s 2016 growth forecast dropped to 2.9 percent, down from 3.1 percent one month ago and 3.5 percent four months ago.

The latest downgrade marks Citi’s fourth consecutive 2016 growth downgrade. Citi’s largest growth downgrades were issued to Argentina, Brazil, Korea, Russia, Nigeria and Turkey.

The Good News

Despite the downgrades, Citi believes…

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