Global economic growth will be flat in 2016, says OECD
The organization blamed a slowdown in trade, investment and wage growth in developed economies
PARIS—A leading global policy organization says world economic growth is likely to level out this year and next.
In a Feb 18 forecast, the Organization for Economic Cooperation and Development estimated growth of three per cent this year, the same as last year.
Catherine Mann, the organization’s chief economist, blamed a slowdown in trade, investment and wage growth in developed economies. She said emerging markets that rely on commodities are also suffering from stagnant trade and the drop in commodity prices.
The OECD, which is based in Paris and counts the world’s most developed economies as its members, predicted a modest pickup in growth in 2017, to 3.3 per cent.