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It said its current growth projection was "a little weaker" than its last forecast in February.
Those were upward revisions of around three-quarters of a percentage point compared with the last forecast in May.
The weak outlook contrasts with the agency's last forecast a month ago for supply and demand to be broadly in balance over the rest of this year and for stocks of oil to fall swiftly.
That was down from its last forecast on Oct. 20 of $1.70 to $1.80 a share.
State officials said revenue projections for 2001-3 hadroppeded $813 million since the last forecast, in September, meaning the state faces a $1.2 billion deficit in its $23 billion budget.
The long wait for the start of spring, at last forecast to start in some parts of Britain this weekend, has been a mute reminder of how things might have been had Rachel Carson not written her devastating warning about the damage inflicted on the natural world by agricultural chemicals and industrial pollution.
The OBR goes on to say that the biggest change since its last forecast is the fall in the price of oil, which is a huge factor that's lowering inflation.
This is the last forecast.
Both estimates are markedly below its last forecast in April.
Our last forecast was for growth just under 1% this year.
While the nuclear association is obviously bullish, it is less so than it was in its last forecast two years ago.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com