The Organisation for Economic Co-operation and Development (OECD) reduced its global economic growth forecast by 3.3% for 2019 and 3.4% for 2020 on its interim Outlook report.
The Outlook was 0.02% higher for 2019 and 0.02% higher for 2020 on OECD’s November report.
OECD stated in the report that “high policy uncertainty, ongoing trade tensions, and further erosion of business and consumer confidence are all contributing to the slowdown.”
It is also indicated that the Brexit uncertainty, trade tensions between the U.S and China and the recession in Italy have an impact on the European economy.
Source: Reuters
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