OECD: global economy remains trapped in low growth

The world economy remains in a “low-growth trap” and weaker conditions in advanced economies will persist into 2017, the Organization for Economic Co-Operation and Development (OECD) warned on Wednesday.

In its interim economic outlook, the OECD forecast that global gross domestic product (GDP) growth is projected to remain flat at around 3 percent in 2016 “with only a modest improvement projected in 2017.” It predicts global growth to expand 2.9 percent this year and 3.2 percent in 2017, lifted by China and India. (MTI)