OECD cuts global growth forecast, cites China worries and weakening European economy
The Organization for Economic Cooperation and Development on Wednesday cut its forecast for 2019 global economic growth to 3.3% from its November forecast of 3.5%, citing worries around China and Europe. "Economic prospects are now weaker in nearly all G20 countries than previously anticipated. Vulnerabilities stemming from China and the weakening European economy, combined with a slowdown in trade and global manufacturing, high policy uncertainty and risks in financial markets, could undermine strong and sustainable medium-term growth worldwide," the Paris-based research body said in its interim economic outlook.
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