Global economy stuck in 'low-growth trap' with no easy escape: OECD

Tokyo

THE Organisation for Economic Co-operation and Development (OECD) has diagnosed the global economy as being stuck in a "low-growth trap, with poor growth expectations depressing trade, investment, productivity and wages".

It said in the latest quarterly update of its Interim Economic Outlook report on Wednesday that global growth would remain flat at around 3 per cent this year and make only marginal improvement next year, singling out the damaging impact of slowing world trade growth.