OECD cuts global growth forecast

PARIS: The OECD on Tuesday (Wednesday in Manila) cut its forecast for the world economy, urging governments to resolve their trade disputes as the latest flare-up in the US-China trade war threatens to crimp global growth.

“Governments must act urgently to reinvigorate growth that benefits all,” the Organisation for Economic Co-operation and Development said as it pared back its forecast for global growth to 3.2 percent this year from 3.3 percent earlier.