OECD: Weak trade and financial distortions damage global growth prospects

In its latest Interim Economic Report, Organization for Economic Co-operation and Development (OECD) made a small downgrade to the global growth forecasts, citing that weak trade and financial distortions damage global growth prospects.

Key Headlines via Livesquawk:

OECD warns weak trade and financial distortions damage global growth prospects

OECD Trims 2016 Global GDP Growth F’cast To 2.9% (prev 3.0%), 3.2% In 2017 (prev 3.3%)

OECD Cuts US 2016 Growth F’cast To 1.4% (prev 1.8%), 2.1% In 2017 (prev 2.2%)

OECD Raises UK 2016 Growth F’cast To 1.8% (prev 1.7%), 2017 Cuts To 1.0% (prev 2.0%)

OECD Cuts Euro Area 2016 Growth F’cast To 1.5% (prev 1.6%), 1.4% In 2017 (prev 1.7%)

OECD Cuts Japan 2016 Growth F’cast To 0.6% (prev 0.7%), 2017 Raised Forecast To 0.7% (prev 0.4%)