The Organisation for Economic Cooperation and Development (OECD) expects the world economy to grow 3.2% both this and next year, nudging up its 2024 forecast from 3.1% projected previously while leaving 2025 unchanged.
U.S. growth is expected to slow from 2.6% this year to 1.6% in 2025. China’s economy is seen slowing from 4.9% in 2024 to 4.5% in 2025.
In the euro zone, the 20-nation bloc’s growth is forecast to nearly double from 0.7% this year to 1.3% next year as incomes outpace inflation.
The OECD has hiked its outlook for the UK economy amid high wage growth, expecting it to expand by 1.1% in 2024 and 1.2% in 2025, up from May forecasts of 0.4% this year and 1% next year.
Source: reuters.com