Economic outlook at risk of further deterioration, OECD says

Risks to the global economy have worsened as the conflict in the Middle East drags on, OECD Secretary General Mathias Cormann said on the sidelines of a Group of Seven meeting.

“The overall assessment is that it’s putting downward pressure on growth and upward pressure on inflation,” Cormann said on Tuesday in an interview with Bloomberg Television. “We provided an initial assessment in our interim economic assessment in March, but we will be revising that assessment in the next few weeks in a formal sense. But clearly downward pressure on growth and upward pressure on inflation.”