OECD calls US dip a blip, but chops world growth forecast

PARIS: The Organization for Economic Cooperation and Development (OECD) on Wednesday sharply lowered its global growth forecasts for 2015 and 2016, dragged down partly by a “transitory” shortfall in US performance and by businesses and governments skimping on investment.

“Global growth is projected to strengthen in the course of 2015 and 2016, but will remain modest relative to the pre-crisis period,” the OECD said.