Economics
OECD Cuts Global Growth Outlook as Investment Lags, Greece Looms
The world economy will expand 3.1 this year, down from the 3.7 percent predicted last October, the Paris-based organization said in a semi-annual report.
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The Organization for Economic Cooperation and Development cut its global growth forecast, saying investment is lagging and risks including a possible Greek default are hurting confidence.
The world economy will expand 3.1 percent this year, down from the 3.7 percent predicted last October, the Paris-based organization said in a semi-annual report. That compares with global growth of about 3.9 percent a year on average in the decade through 2011. Last year, the world economy grew 3.3 percent.