PARIS (AP) — A global economic watchdog says world growth has passed its peak and faces growing risks, including from trade disputes and higher interest rates.
The Organization for Economic Co-operation and Development, which advises many of the world's richest economies, said Wednesday it has cut its forecast for global growth next year to 3.5 percent from 3.7 percent previously.
The Paris-based agency said that while labor markets are in good health in major economies like the U.S., trade and investment have taken a hit from higher tariffs. U.S. President Donald Trump has slapped tariffs on many trade partners and escalated a tit-for-tat dispute with China.
OECD chief Angel Gurria said: "Trade conflicts and political uncertainty are adding to the difficulties governments face in ensuring that economic growth remains strong, sustainable and inclusive."
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report