By bizn_fun 
In the US, growth has been helped by strong investment in tech areas such as Artificial Intelligence (AI), and the OECD has increased its growth forecast for the US this year to 1.8% from 1.6%.
Globally, the US tariffs imposed by President Donald Trump this year continues to affect future prospects for growth. Tariffs are taxes on imported goods and Trump has imposed such levies on products arriving on American shores from various countries.
The OECD said US tariff rates had increased on almost all countries since May, with the overall effective rate hitting 19.5% at the end of August, the highest since 1933.
Trump has argued the import taxes will boost US manufacturing and jobs, but several economists have warned it will push up prices for US consumers.
The scramble to complete trades before the tariffs led to surge in activity in the first few months of the year, the OECD said, but this is now tapering off.
It added the full impact of the tariffs has yet to be seen. Some changes are being phased in over time, it said, while some companies are accepting smaller profit margins for now.
However, it said the impact was “becoming increasingly visible in spending choices, labour markets and consumer prices”.
“Growth is expected to soften noticeably in the second half of this year, as front-loading activity unwinds and higher effective tariff rates on imports to the United States and China dampen investment and trade growth,” it said.