World econ­omy has passed its peak, OECD warns

Calgary Herald - - FINANCIAL POST -

PARIS 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 said Wed­nes­day it has cut its fore­cast for global growth next year to 3.5 per cent from 3.7 per cent.

The Paris-based agency said that while labour 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.

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