Global economy caught in low-growth trap but reasons to be cheerful

The global economy has been struggling for upward momentum in recent years.

The OECD has observed that “eight years after the financial crisis, the global recovery remains disappointingly weak” with the world economy caught in a “low-growth trap”.

World growth was 3.1% in 2015, the weakest rate since the end of the economic crisis of 2008-2009, reflecting in particular slower growth in emerging economies.