Meanwhile, the OECD has forecast U.S. growth of 2.1 per cent this year and 2.4 per cent in 2018, a downgrade from its March prediction when it forecast a 2.4 per cent rise in United States growth this year, and 2.8 per cent for 2018.
"On a per capita basis, OECD GDP growth remains over a half percentage point weaker than in the two decades prior to the crisis" of 2008, the organisation noted. The OECD expects US growth this year of 2.1%, down from the 2.4% forecast it gave in March.
The OECD's call came as part of its twice yearly report on the outlook for the global economy, in which it raised its growth forecasts for the eurozone both this year and next.
It said the modest growth is supported by an upturn in exports, which have been on a roll since November past year on the back of brisk overseas sales of semiconductors.
The OECD also marginally nudged up its estimates for growth in China to 6.6 percent this year and 6.4 percent in 2018, boosted by stimulus spending.
The U.S. economy is projected to grow 2.1 percent this year and 2.4 percent next year, down from 2.4 percent and 2.8 percent projected in March, respectively.
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He added: "I guess the story becomes more intriguing in that if he goes to the Lakers, he could've doubled his deal and chose to pass".
This has led to strong wage growth, it said while inflation has been contained by declines in global energy prices and, more recently, euro-sterling exchange rate developments.
Over Seoul's decision to deploy a US -led missile system, the Beijing government's retaliatory measures against Korean-made consumer goods and a ban on tour groups may drag down the country's GDP growth by 0.2 percentage point, as China accounts for a quarter of South Korean exports, it added.
OECD chief economist Catherine Mann said, however, that "policymakers can not be complacent".
The organization said global growth was expected to pick-up with upside risks adding: "The global economic outlook is better, but not good enough to sustainably improve citizens' well-being".
"Households are expected to continue to support their consumption by further reducing their saving rate".
It said businesses and consumers are increasingly confident and employment, industrial production and trade are all recovering.