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World Economy Seen Picking Up, But Political Uncertainty a Risk

  • Associated Press

FILE - A man walks by an electronic stock board of a securities firm in Tokyo, April 3, 2017.

A global watchdog says the world economy is picking up speed but faces big political uncertainties and needs to be reformed to make growth work for a broader swath of people.

The Organization for Economic Cooperation and Development says in its latest outlook report, published Wednesday, that world growth should accelerate from 3 percent in 2016 to 3.6 percent in 2018.

The OECD, whose members comprise the richest economies in the world and that serves as a policy think tank, said businesses and consumers are increasingly confident and employment and trade are recovering.

OECD Chief Economist Catherine Mann said, however, that "policymakers cannot be complacent." There is uncertainty over government policies in major countries and wages are not yet growing as much as hoped.

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