Global growth predictions revised down by OECD

<p>The OECD has downwardly revised its global growth predictions.</p>

The Organisation for Economic Cooperation and Development (OECD) has revised its global growth predictions for the next two years.

It was announced the body now expects growth to rise from 1.2 per cent to 2.3 per cent next year, before a 2.7 per cent increase in 2015.

OECD secretary-general Angel Gurria said during the Outlook launch in Paris that risk of more brinkmanship in the US could impact global growth.

"There is also a risk that tapering of asset purchases by the US Federal Reserve could bring a renewed bout of instability," he said.

Mr Gurria added exiting non-conventional monetary policy is going to be "challenging" for the OECD countries in the next two years.

Growth in the US is projected by the OECD to reach a 2.9 per cent rate in 2014 and a 3.4 per cent rate in 2015.

The US recently revealed that its growth for the third quarter of 2013 stood at 2.8 per cent, which slightly beat the expectations of analysts.

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