OECD Lowers Global Economic Growth Forecast

From 3.1 percent to 2.7 percent for this year

Global growth is expected to lag this year and next, but for the first time in a long time, it's not all Europe's fault.

That's the view of a leading international economic body, which said Tuesday that a slowdown in emerging economies and the potential for another U.S. budget crisis are the main sources of concern for the global economy.

In its half-yearly forecast, the Organization for Economic Cooperation and Development lowered its forecast for global growth this year to 2.7 percent and 3.6 percent for next. In May, it had predicted 3.1 percent and 4 percent growth, respectively.