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Global growth is set to hit a 10-year low as Trump's trade war drags down economy

Trump XiReuters/Carlos Barria

  • Global growth is expected to slow this year to a pace not seen since the financial crisis, the Organization for Economic Cooperation and Development said Thursday.
  •  The US-China trade dispute has increasingly threatened the outlook in the largest economies and elsewhere.
  • "The uncertainty provoked by the continuing trade tensions has been long-lasting, reducing activity worldwide and jeopardising our economic future," said Laurence Boone, the chief economist at the OECD.
  • Visit the Markets Insider homepage for more stories.

Global growth is expected to slow this year to a pace not seen since the financial crisis, the Organization for Economic Cooperation and Development said Thursday. The new data comes as the US-China trade dispute increasingly threatens the outlook in the largest economies and elsewhere.

The world economy will expand by 2.9% in 2019, the OECD projects, the weakest annual growth rate in a decade. Output could fall further in 2020 if the effects of tariffs worsen, the Paris-based organization said, or remain low at 3%.

See the rest of the story at Business Insider

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