Amidst trade tensions, political uncertainty OECD lowers growth forecast to 3.3 pct

Global trade tensions and political uncertainty are weighing on the world's economy, the OECD warned Wednesday, cutting its global growth forecast for this year to 3.3 per cent, down from the 3.5 per cent it predicted in November.

"High policy uncertainty, ongoing trade tensions, and further erosion of business and consumer confidence are all contributing to the slowdown," the Organisation for Economic Co-operation and Development said in an interim version of its Economic Outlook.

(With inputs from agencies.)