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OECD Changes its Global Economic Growth Predictions, China is at Fault

Organisation for Economic Co-operation and Development (OECD) worsens its prognosis of global economic growth for the next two years. A lot of it stems from economic uncertainty coming from China.

It is now expected that the growth of the global GDP will constitute 3% against the June’s 3,1% prediction. Whereas, in 2016 the GDP growth will amount 3,6% against the earlier predicted 3,8%.

longside these indicators, China’s economic growth is slowing down to 6,7% this year. It is expected to be 6,5% next year, compared to the 7,4% growth demonstrated by China in 2014, reads the OECD report.