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OECD warns that global economy is slowing

Major economies are likely to slow by the end of the year, the Organisation for Economic Co-operation and Development (OECD) has warned.

The OECD expects 0.3% growth in the UK in the last three months of the year, but said the economy could contract by as much as 1% amid high uncertainty over its projections.

It predicts the Group of Seven largest economies will grow by just 0.2%.

Stephanie Flanders reports.

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