Group of 20 finance ministers need to find ways to boost productivity growth or risk seeing the world economy to slip into an extended period of low growth, the Organization for Economic Cooperation and Development said.
The widespread drop in productivity may “presage the beginning of a new low-growth era,” OECD Chief Economist Pier Carlo Padoan said in a report. “The global economy’s momentum remains sluggish” and these concerns “now encompass emerging-market economies” as well as developed ones, he said.
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