The Organisation for Economic Co-operation and Development has warned that extra measures might need to be taken by governments around the world to boost economies.

In a report, the group has indicated that industrialised economies could slow to an annual rate of 1.5% in the second half of the year in a more pronounced drop than originally forecast.

The report also said that its assessment was subject to great uncertainty and could be changed if deeper factors were identified.

It said a recent sluggishness had suggested governments might boost stimulus measures by continuing central bank purchases of corporate debt and maintaining interest rates close to zero.

The OECD said that if consumer spending was to be further held back by unemployment and falling housing prices, stimulus would be needed to pick up the weaker economies.