OECD shaves global growth forecast, sounds alarm on trade

OECD trimmed its forecast for global growth this year by a tenth of a percentage point to 2.9 percent, while lowering its 2016 by three tenths of a percentage point to 3.3 percentThe OECD cut Monday its global growth forecasts, sounding the alarm on stagnating trade, which has in the past been the canary in the cage for a global recession. It trimmed its forecast for global growth this year by a tenth of a percentage point to 2.9 percent, while lowering its 2016 by three tenths of a percentage point to 3.3 percent. “Global growth is projected to strengthen slowly over the course of 2016-2017, against a background of subdued inflationary pressure,” said the OECD, which sees a pick up to 3.6 percent growth in 2017.

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