The OECD cut forecasts again for the global economy in 2019 and 2020, following ...
PARIS - The OECD cut forecasts again for the global economy in 2019 and 2020, following on from previous downgrades in November, as it warned that trade disputes and uncertainty over Brexit would hit world commerce and businesses.
The Organization for Economic Co-Operation & Development forecast in its interim outlook report that the world economy would grow 3.3 percent in 2019 and 3.4 percent in 2020. “High policy uncertainty, ongoing trade tensions, and a further erosion of business and consumer confidence are all contributing to the slowdown,” said the OECD in its report.
Europe remains impacted by uncertainty over Britain’s plans to exit the European Union, the U.S. - China trade spat and other weak spots, such as signs of a recession in Italy.
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