OECD cuts global outlook on trade, political tensions

Bloomberg

The global economy is suffering more than expected from trade tensions and political uncertainty which are clouding prospects particularly in Europe, according to a gloomy report from the OECD.
As these are the organisation’s first forecasts in almost four months, it’s partly playing catch-up with developments since then. In that period, little has gone right for the world’s biggest economies: Weakness in the euro area and China are proving more persistent, trade growth has slowed sharply and uncertainty over Brexit has continued.
“The global expansion continues to lose momentum,’’ the Paris-based Organization for Economic Cooperation and Development said as it downgraded almost every Group of 20 nation’s economy. “Growth outcomes could be weaker still if downside risks materialise or interact.”