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

Trump Xi Reuters/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

NOW WATCH: Jeff Bezos is worth over $160 billion — here's how the world's richest man makes and spends his money

Comments

Second stimulus checks update: Here’s the latest as Democrats push for more payments

A second stimulus check from the IRS would be nice, but don’t count on it just yet. The bill faces an uphill battle in a Republican-led Congress. Democrats in the House of Representatives put forth a new stimulus package proposal yesterday, and—good news!—it includes a second round of stimulus checks for Americans hurt by the ongoing global pandemic. For example, the 33 million people currently jobless due to COVID-19. Read Full Story

The UK has reported 319 coronavirus cases and 5 deaths. Here's what we know about how the virus is spreading across Britain.

Getty The UK had reported 319 coronavirus cases and five deaths linked to the virus as of Monday afternoon. Two people died on Monday as Boris Johnson updated the nation on the virus. The UK markets are taking a battering as the COVID-19 virus continues to spread across the nation. The UK's chief scientific adviser said that coronavirus outbreaks may become an annual event and that a vaccine is unlikely to be created this year. Johnson's government expects to virus to "spread in a significant way" in the coming days and weeks. Officials are considering plans to order the public to work at home for at least three months. Visit Business Insider's homepage for more stories . The UK has reported a total of 319 coronavirus cases and five deaths linked to the virus. A patient in his 70s with underlying health conditions passed away on Monday, a spokesperson for the Royal Wolverhampton NHS Trust said. It was announced later in the day that a fifth person had d...

A grand optical illusion teases conspiracy under the Louvre

The 183,000-square-foot mural was both an amazing 3D illusion and a metaphor of the ephemeral nature of art itself. An amazing 183,000-square-foot optical illusion collage appeared last Friday at the Louvre’s courtyard showing the imaginary, fantastic guts of the museum’s glass pyramid– only to be destroyed in a few hours by visitors. No, apparently we can’t have nice things, but its destruction was actually part of the art itself. Read Full Story

Internet Business News

Search This Blog