OECD: Global GDP growth is expected to slow, forecasts are lowered for the euro zone

The growth of the global GDP will slow to 2.9% in 2024 from 3.1% recorded at the end of 2023. In 2025, the growth will reach 3%, according to a new forecast by the Organization for Economic Cooperation and Development (OECD).

The estimates for the United States have been significantly improved: it is expected that in 2024 the GDP of this country will grow by 2.1%, instead of 1.5% as previously projected.

In contrast, the forecasts for the euro zone economy have been lowered: it is expected to grow by 0.6% in 2024 and by 1.3% in 2025 (in November, it was expected to grow by 0.9% and 1.5%, respectively). According to OECD estimates, the euro zone's GDP increased by 0.5% in 2023.

Due to weak domestic demand and problems in the real estate market, the growth rate of the Chinese economy will slow down over the next two years: from 5.2% in 2023 to 4.7% in 2024 and 4.2% in 2025.