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The Organisation for Economic Co-operation and Development has recently announced that it cut its 2019 global growth forecast to 3.3% from 3.5% announced in the previous estimate and said that factors such as trade tensions, policy uncertainty and weakening confidence would weigh on the global growth.  

Key takeaways (via Reuters)

  • Global economic growth of 3.4 pct in 2020, down 0.1 percentage points from earlier forecast.
  • G20 economic growth of 3.5pct in 2019, and 3.7pct in 2020.
  • U.S. economic growth of 2.6pct in 2019, and 2.2pct in 2020.
  • Chinese economic growth of 6.2pct in 2019 (down 0.1 percentage points from earlier forecast), and 6.0pct in 2020.
  • Japanese economic growth of 0.8pct in 2019 (down 0.2 percentage points from earlier forecast), and 0.7pct in 2020.
  • UK growth of 0.8pct in 2019 (down 0.6 percentage points from earlier forecast), and 0.9pct in 2020.