OECD lowers 2019 global economic growth forecast to 3.2% from 3.3% in March

The Paris-based Organization for Economic Co-operation and Development (OECD), in its latest economic outlook on the global economy released this Tuesday, lowered 2019 global economic growth forecast to 3.2% from 3.3% in March.

Key highlights:

   •  2020 global economic growth seen at 3.4% (unchanged).
   •  Global growth is to remain sub-par due to trade tensions.

   •  2019 US economic growth seen at 2.8% (0.2% higher).
   •  2020 US economic growth seen at 2.3% (0.1% higher).

   •  2019 China economic growth seen at 6.2%.
   •  2020 China economic growth seen at 6.2%. 

   •  2019 Euro-zone economic growth seen at 1.2% (0.2% higher).
   •  2020 Euro-zone economic growth seen at 1.4% (0.2% higher).

   •  2019 Japan economic growth seen at 0.7% (0.1% lower).
   •  2020 Japan economic growth seen at 0.6% (0.1% lower).

   •  2019 UK economic growth seen at 1.2% (0.4% higher).
   •  2020 UK economic growth seen at 1.0% (0.1% higher).