OECD: Downgrading global economic growth forecast for this year and next

The Organization for Economic Co-operation and Development recently released a report on the mid-term outlook for the global economy in Paris. The report pointed out that due to many factors such as the tight trade situation, the European economic slowdown, the fragile financial market and the decline in business and consumer confidence, the global economic downside risks have increased. The report predicts that the global economy will grow by 3.3% and 3.4% respectively this year and next, down by 0.2 and 0.1 percentage points from the November forecast.