OECD cuts global growth forecast on weak trade
For the US economy, the OECD is now expecting to see a growth rate of 1.4% this year, lower than the 1.8% estimated in June. For the eurozone economy, economic growth projections were trimmed by 0.1% to 1.5% while Japan’s outlook was lowered by 0.1% to 0.6%. Meanwhile, the OECD cut UK’S 2017 economic output expectations by 1% after the country’s decision to leave the European Union.
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