OECD: Global economy sliding towards weakest growth in decade

Intensifying trade conflicts have sent global growth momentum tumbling toward lows last seen during the financial crisis, and governments are not doing enough to prevent long-term damage, the Organisation for Economic Cooperation and Development (OECD) has said in its latest outlook. The Paris-based organisation cut almost all economic forecasts it made just four months ago, as protectionist policies take an increasing toll on confidence and investment, and risks continue to mount on financial markets. It sees world growth at a mere 2.9 per cent this year. The OECD lowered its…

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