The Organisation for Economic Cooperation and Development has cut its global growth forecasts for this year and next.
In a report on Tuesday, the OECD said that GDP growth among OECD members is projected to be 1.2 percent this year, 2.3 percent in 2014 and 2.7 percent in 2015. The world economy will grow 2.7 percent year, 3.6 percent in 2014 and 3.9 percent in 2015.
The forecasts for this year and 2014 are just under 1/2 percentage point lower than forecast last May, largely as a result of the worsened outlook for some emerging economies.
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