OECD Trims Developed World Growth Forecast as Risks Build

The Organization for Economic Cooperation and Development trimmed its growth forecasts for the biggest developed economies in the face of increasing geopolitical risks and subdued European inflation.

Euro-area gross domestic product is now expected to expand 0.8 percent this year, down from 1.2 percent in May, while the U.S. will expand 2.1 percent instead of 2.6 percent, the Paris-based OECD said today in a report.