OECD calls US dip a blip, but chops world growth forecast

The OECD, a policy analysis body grouping 34 advanced economies, slashed its outlook for the United States from 3.1 and 3.0 percent to 2.0 and 2.8 percent for this year and nextThe OECD on Wednesday sharply lowered its global growth forecasts for 2015 and 2016, dragged down partly by a “transitory” shortfall in US performance and by businesses and governments skimping on investment. “Global growth is projected to strengthen in the course of 2015 and 2016, but will remain modest relative to the pre-crisis period,” the Organisation for Economic Cooperation and Development said. It predicted the world economy would grow at a rate of 3.1 percent this year, down from the 4.0 percent increase it projected in March.

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