OECD warns global economic outlook has darkened

The global economic outlook has darkened in recent months, with a slow recovery in the eurozone holding back many other economies, the Organisation for Economic Co-operation and Development has said.

In its latest update, the group downgraded its growth forecast for most of the world's largest economies, including the UK. Conflicts in Ukraine and the Middle East and the referendum on an independent Scotland are areas of risk and uncertainty, it said, as it reduced the growth forecasts for 2014 of nearly all the major economies. It has lowered its 2014 estimate for the eurozone economy to growth of just 0.8%, compared with a forecast of 1.2% made in May. Meanwhile, the UK's forecast was cut by 0.1 percentage points to 3.1%, although it was one of the regions which saw the smalle...