ECONOMICS COMMENTARY
May 29, 2013
OECD sees slower global growth outlook
A gloomy OECD has trimmed its global growth forecast once again. The organisation now expects the global economy to grow by just 3.1% this year, down from 3.4% in its last twice-yearly forecast and down from 4.2% a year ago. Growth was revised down for the US, UK and China, while the Eurozone is set to experience a deeper than previously thought downturn. Of the world's major economies, only Japan saw an upgrading to its growth outlook.
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