Governments must boost spending to escape 'low-growth trap': OECD

Ensnared in a "low-growth trap", the world economy will meander along at its slowest pace since the financial crisis for a second year in a row in 2016, the OECD forecast on Wednesday, urging governments to boost spending. With businesses wary of investing and consumers cautious about spending, the global economy will grow only 3.0 percent this year, the Organisation for Economic Cooperation and Development estimated. Growth at those levels deprives youths of job opportunities and means old peop