Economic growth prospects are now slightly weaker across the board than anticipated in May, when the OECD released its latest Economic Outlook.
Escalating trade tensions, tightening financial conditions in emerging markets and political risks could further undermine strong and sustainable medium-term growth worldwide, according to an OECD statement which you can watch in full below.
The OECD projects that the global economy will grow by 3.7% in both 2018 and 2019, with rising differences across countries, in contrast to the broad-based expansion seen in the latter part of 2017 and earlier in 2018
Confidence has weakened, trade and investment growth have proven slower than anticipated and wage growth has remained modest across most countries despite OECD-wide unemployment having fallen below pre-crisis rates.
The outlook and projections reflect a downward revision of the global economy since the previous Economic Outlook in May 2018, and cover all G20 economies.
Read more: OECD Report States Global Growth is Slowing