Trade war risk stalks global economic upturn, says OECD
Updated : May 30, 2018 12:41 PM IST
Global growth is set to nudge up from 3.8% this year to 3.9% in 2019, the Organisation for Economic Cooperation and Development forecast in its bi-annual Economic Outlook
The Paris-based policy forum made up mainly of developed countries had in March pencilled in an estimate of 3.9% for both years but trimmed its outlook for 2018 due to a weak start to the year because of temporary factors like bad weather.
The OECD said budgetary easing had taken over from central bank stimulus as the main motor of global growth with three fourths of its member countries now estimated to be loosening purse-strings, led by massive US tax cuts.