The Organisation for Economic Cooperation and Development (OECD) has slashed its 2015 global growth forecast from 4 percent to 3.1 percent.<br /><br /> It has also reduced its 2016 outlook, cutting it from 4.3 percent to 3.8 percent.<br /><br /> OECD Secretary General Angel Gurria said: “The global recovery continues, but it is still mired by high levels of unemployment, rising inequalities and low wage and low productivity growth.”<br /><br /> “A major explanation for this state of affairs is the lack of vigour of investment,” Gurria also said.<br /><br /> The OECD has cut its forecast for the US economy – which shocked analysts by contracting in the first quarter, raising the spectre of its worst first-half performance in four years.<br /><br /> The eurozone has finally started making a positive contribution to global growth, after years in the doldrums – but fear over the fate of Greece has the OECD deeply concerned.
