OECD – Low Growth Trap for the Global Economy

On Wednesday, the OECD said that the world's economy is trapped in a weak growth environment and vulnerable to falling into another deep downturn unless governments take urgent action. Soft demand has discouraged investment and lead to a downgrade in global growth rates.OECD chief economist Catherine Mann yesterday said 'The longer the global economy remains in the low-growth trap, the more difficult it will be to break the negative feedback loops.'On a positive note, the OECD increased its growth forecasts for the Eurozone based on a stronger than expected first quarter.Global Growth - downgradedThe organization lowered its growth forecast for the combined economy of the 34 OECD countries to 1.8% this year and 2.1% in 2017 from 2.2% and 2.3% respectively in November.US Growth - downgradedThe OECD now expects the U.S. economy to grow 1.8% this year and 2.2% in 2017, instead of 2% and 2.2% as it forecast in February and 2.5% and 2.4% in November.Eurozone Growth - upgradedThe OECD increased its growth forecast for the eurozone this year to 1.6% from 1.3% in February after a stronger than expected first quarter. But it kept its 2017 eurozone forecast at 1.7%.Japan Growth -...

from timesofmalta.com http://ift.tt/20X9s4E
via IFTTT