OECD warns on global slowdown

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The global economic recovery may be slowing faster than thought, the Organisation for Economic Cooperation and Development (OECD) cautioned on Thursday.

The OECD said that it now expected annual growth in the second half of the year to be 1.5% for the G7 economies, down from the 1.75% forecast in May.

The OECD viewed the loss of momentum as temporary and said, while uncertainty had increased, another downturn was unlikely. Anaemic consumer demand would likely be offset by robust corporate profit

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