No-deal Brexit will cut 3% off UK economic growth, says OECD

Group forecasts 2020 recession just as global economy starts downward trend

A no-deal Brexit will slice almost 3% from the UK economic growth over the next three years compared with just 0.6% from the rest of the EU, according to the latest health check of the global economy by the Organisation for Economic Co-operation and Development.

Amid concerns that all developed countries will experience slower growth next year, the Paris-based club for the world's 35 richest states warned that the UK would take the biggest hit if the government failed to secure an agreement with the EU.

The Organisation for Economic Co-operation and Development is an intergovernmental organisation formed in 1961 to work on global trade and the world economy. It has 36 member countries.

Related: Global economic growth has peaked, warns OECD