Economics
OECD Cuts Global Outlook Again and Warns Worse May Be Ahead
- World economic growth 2019 forecast reduced to 3.3% from 3.5%
- Europe slowdown is particularly sharp, OECD urges new measures
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The global economy is suffering more than expected from trade tensions and political uncertainty which are clouding prospects particularly in Europe, according to a gloomy report from the OECD.
As these are the organization’s first forecasts in almost four months, it’s partly playing catch-up with developments since then. In that period, little has gone right for the world’s biggest economies: Weakness in the euro area and China are proving more persistent, trade growth has slowed sharply and uncertainty over Brexit has continued.