OECD cuts forecasts to the global economy, warns of entrenched uncertainty
Those are quite the amount of downgrades relative to its May forecast.
OECD says that trade tensions are the main cause for a more fragile and uncertain outlook to the global economy. Noting that intensifying trade conflicts and governments not doing enough to prevent damage will hurt global growth momentum going into next year.
The 2.9% forecast for global growth this year is the weakest projection since the financial crisis, almost a decade ago.