A further sharp downturn in emerging market economies and world trade has weakened global growth to around 2.9 percent this year – well below its long-term average – and is a source of uncertainty for near-term prospects, the Organisation for Economic Co-operation and Development (OECD).In its latest twice-yearly Economic Outlook, the OECD projected a gradual strengthening of global growth in 2016 and 2017 to 3.3 percent and 3.6 percent, respectively, but said any pick-up would require a smooth rebalancing of activity in China and more investment in advanced economies.
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