OECD raises 2023 global GDP growth forecast to 2.6%
1 year, 9 months ago

OECD raises 2023 global GDP growth forecast to 2.6%

The Hindu  

The Organisation for Economic Co-operation and Development raised its global economic growth forecast on Friday as inflation eases and China emerges from COVID restrictions, but warned of vulnerabilities as seen in the US bank sector turmoil. But it remains under the 3.2% expansion seen in 2022, the Paris-based OECD said in its updated economic outlook titled “A Fragile Recovery”. 🔴 WATCH LIVE Presentation of Interim #EconomicOutlook by OECD Secretary-General @MathiasCormann & Acting Chief Economist @santospereira_a 👇 https://t.co/EAot3zve2T — OECD ➡️ Better Policies for Better Lives March 17, 2023 “More positive signs have now started to appear, with business and consumer sentiment starting to improve, food and energy prices falling back, and the full reopening of China,” the OECD said in its Interim Economic Outlook report. 👇 https://t.co/EAot3zve2T — OECD ➡️ Better Policies for Better Lives March 17, 2023 “Signs of the impact of tighter monetary policy have started to appear in parts of the banking sector, including regional banks in the United States,” it said. “Higher interest rates could also have stronger effects on economic growth than expected, particularly if they expose underlying financial vulnerabilities.” The monetary tightening has been linked to the collapse of Silicon Valley Bank last week after it booked a $1.8 billion loss on bonds whose prices were brought down by the higher rates.

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History of this topic

OECD warns central banks about rate cuts
2 weeks, 5 days ago

OECD warns central banks about rate cuts

China Daily  

FILE PHOTO: European Central Bank President Christine Lagarde speaks to reporters following the Governing Council's monetary policy meeting in Frankfurt, Germany September 12, 2024. The Organisation for Economic Co-operation and Development, or OECD, has forecast continued economic resilience globally despite headwinds, while warning central banks against cutting interest rates too quickly amid persistent service-sector inflation. In its latest Economic Outlook …

OECD warns central banks about rate cuts
2 weeks, 5 days ago

OECD warns central banks about rate cuts

China Daily  

FILE PHOTO: European Central Bank President Christine Lagarde speaks to reporters following the Governing Council's monetary policy meeting in Frankfurt, Germany September 12, 2024. The Organisation for Economic Co-operation and Development, or OECD, has forecast continued economic resilience globally despite headwinds, while warning central banks against cutting interest rates too quickly amid persistent service-sector inflation. In its latest Economic Outlook …

UK interest rates to fall more slowly than expected after Budget – OECD
2 weeks, 6 days ago

UK interest rates to fall more slowly than expected after Budget – OECD

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK interest rates will fall …

World economy to accelerate in 2025, but recovery threatened by higher tariffs, OECD says
2 weeks, 6 days ago

World economy to accelerate in 2025, but recovery threatened by higher tariffs, OECD says

Live Mint  

The global economy is set to grow at slightly a faster pace next year as inflation continues to cool, but could falter if tariffs rise and governments fail to narrow wide budget deficits, the Organization for Economic Cooperation and Development said Wednesday. “Growth continues to be resilient," said Alvaro Pereira, the OECD’s chief economist, in an interview with The Wall …

China's Economic Turnaround: A Positive Step but Structural Issues Remain
2 months, 1 week ago

China's Economic Turnaround: A Positive Step but Structural Issues Remain

Hindustan Times  

China's economy is showing signs of a turnaround, with the latest round of stimulus measures expected to boost growth. The bank upgrades its forecasts for 2024 and 2025, with an upgraded growth forecast for next year to 4.7%. Despite the positive outlook, Goldman Sachs cautions that structural issues such as demographics and debt remain and pose challenges beyond 2026.

OECD optimistic about UK's economy
2 months, 3 weeks ago

OECD optimistic about UK's economy

China Daily  

Buses cross Waterloo Bridge with the City of London financial district seen behind, in London, Britain, March 5, 2024. In an optimistic assessment likely to please the UK's new Labour Party government, the Paris-based organization said it expects the UK economy to be the joint-second fastest-growing among G7 nations. In its latest twice-yearly global economic outlook, the OECD predicted the …

World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year
6 months, 1 week ago

World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year

Associated Press  

WASHINGTON — The World Bank upgraded its outlook for the global economy Tuesday, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States. Stronger-than-expected growth in the United States — the world’s biggest economy — accounted for 80% of the World Bank’s upgraded outlook. But even after the World Bank’s upgrade, global …

UN reports improved prospects for the world economy and forecasts 2.7% growth in 2024
7 months, 1 week ago

UN reports improved prospects for the world economy and forecasts 2.7% growth in 2024

Associated Press  

UNITED NATIONS — The United Nations reported improved prospects for the world economy since its January forecast on Thursday, pointing to a better outlook in the United States and several large emerging economies including Brazil, India and Russia. “Globally, energy and food prices are inching upward in recent months, but I think a bit more insidious even is the persistence …

US economy to outpace G7 peers with double GDP growth rate this year, claims IMF
8 months, 1 week ago

US economy to outpace G7 peers with double GDP growth rate this year, claims IMF

Hindustan Times  

US has a 2x rate of GDP growth relative to any other G7 country this year, as per International Monetary Fund projections, while its economy gains the upper hand globally, creating wild market swings by itself. International Monetary Fund Chief Economist Pierre-Olivier Gourinchas holds the IMF's World Economic Outlook during a press briefing at the IMF-World Bank Group spring meetings …

OECD ups world growth forecast but sees Middle East 'risk'
10 months, 2 weeks ago

OECD ups world growth forecast but sees Middle East 'risk'

New Indian Express  

PARIS: The OECD raised its 2024 world economic growth forecast Monday but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices. The OECD now expects a 2.9 percent expansion, up from 2.7 percent in its previous forecast in November, as it sharply lifted the outlook for the United States, …

Economic growth continues, as latest GDP data shows strong 3.3% pace last quarter
10 months, 4 weeks ago

Economic growth continues, as latest GDP data shows strong 3.3% pace last quarter

CBS News  

The nation's economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday's report from the Commerce Department said the gross domestic product — the economy's total output of goods and services — decelerated from its …

Global economy will slow for a third straight year in 2024, World Bank predicts
11 months, 2 weeks ago

Global economy will slow for a third straight year in 2024, World Bank predicts

Associated Press  

WASHINGTON — Hobbled by high interest rates, persistent inflation, slumping trade and a diminished China, the global economy will slow for a third consecutive year in 2024. “Near-term growth will remain weak, leaving many developing countries — especially the poorest — stuck in a trap: with paralyzing levels of debt and tenuous access to food for nearly one out of …

World Bank, ADB project China GDP growth of 5.2% in 2023
1 year ago

World Bank, ADB project China GDP growth of 5.2% in 2023

China Daily  

A view of Beijing's CBD area. The World Bank has predicted China's economy will have grown 5.2 percent in 2023, with momentum expected to stabilize in the near term, propelled by a gradual recovery of consumer sentiment and policy stimulus. As global growth is projected to remain tepid at 2.4 percent next year, the world's second-largest economy is expected to …

The world economy will slow next year because of inflation, high rates and war, OECD says
1 year ago

The world economy will slow next year because of inflation, high rates and war, OECD says

Associated Press  

WASHINGTON — The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. China’s “consumption growth will likely remain subdued due to increased precautionary savings, gloomier prospects for employment creation and heightened uncertainty,″ the OECD said. The world economy has endured one shock …

The world economy will slow next year because of inflation, high rates and war, OECD says
1 year ago

The world economy will slow next year because of inflation, high rates and war, OECD says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

The world economy will slow next year because of inflation, high rates and war, OECD says
1 year ago

The world economy will slow next year because of inflation, high rates and war, OECD says

LA Times  

A crane lifts a shipping container at an automated container port in Tianjin, China. The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. China’s “consumption growth will likely remain subdued due to increased precautionary savings, gloomier prospects for employment creation and …

NDRC vows policy boost for consumption, investment
1 year, 5 months ago

NDRC vows policy boost for consumption, investment

China Daily  

Diners enjoy food at a restaurant in a shopping mall in New Century Square, Handan, Hebei province, on Jan 24. "With the key focus being on areas such as stabilizing spending on big-ticket items, spurring consumption of automobiles and electronic products, expanding rural consumption and optimizing the consumption environment, we will roll out a range of practical and effective policy …

NDRC vows policy boost for consumption, investment
1 year, 5 months ago

NDRC vows policy boost for consumption, investment

China Daily  

Diners enjoy food at a restaurant in a shopping mall in New Century Square, Handan, Hebei province, on Jan 24. "With the key focus being on areas such as stabilizing spending on big-ticket items, spurring consumption of automobiles and electronic products, expanding rural consumption and optimizing the consumption environment, we will roll out a range of practical and effective policy …

NDRC vows policy boost for consumption, investment
1 year, 5 months ago

NDRC vows policy boost for consumption, investment

China Daily  

Diners enjoy food at a restaurant in a shopping mall in New Century Square, Handan, Hebei province, on Jan 24. "With the key focus being on areas such as stabilizing spending on big-ticket items, spurring consumption of automobiles and electronic products, expanding rural consumption and optimizing the consumption environment, we will roll out a range of practical and effective policy …

GDP growth may cross 7% in 2022-23: RBI Governor
1 year, 7 months ago

GDP growth may cross 7% in 2022-23: RBI Governor

The Hindu  

India’s GDP growth in 2022-23 may well surpass the 7% estimate, while retail inflation is likely to go below the 4.7% mark this month, and gross non-performing assets in the banking system have likely dipped further in the January to March 2023 quarter, Reserve Bank of India Governor Shaktikanta Das said on Wednesday. “I will not be surprised if India’s …

Europe scrapes out economic growth by dodging gas disaster
1 year, 10 months ago

Europe scrapes out economic growth by dodging gas disaster

Associated Press  

FRANKFURT, Germany — Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. He added that “the positive reading could mask underlying weakness in domestic demand” and that “private consumption is likely to have contracted.” “The main …

World Bank: Recession a looming threat for global economy
1 year, 11 months ago

World Bank: Recession a looming threat for global economy

Associated Press  

WASHINGTON — The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned on Tuesday. Though the United States might avoid a recession this year — the World Bank predicts the U.S. economy will eke out growth …

Global economy ‘perilously close’ to a recession: World Bank
1 year, 11 months ago

Global economy ‘perilously close’ to a recession: World Bank

Al Jazeera  

The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies – the United States, Europe and China – the World Bank warned on Tuesday. Though the United States might avoid a recession this year – the World Bank has predicted the US economy will eke out growth of …

Need pragmatism to tackle the slowdown
1 year, 11 months ago

Need pragmatism to tackle the slowdown

Hindustan Times  

International Monetary Fund managing director Kristalina Georgieva has warned that one-third of the global economy could face a recession this year, which could be a more difficult year than 2022. Ms Georgieva’s comments laid the ground for further slashing of Gross Domestic Product growth rates when the IMF releases updates to its World Economic Outlook later this month. The Indian …

2023 to be tougher for global economy than 2022, IMF chief says
1 year, 11 months ago

2023 to be tougher for global economy than 2022, IMF chief says

Al Jazeera  

IMF Managing Director Kristalina Georgieva says one-third of world’s economies expected to be in recession this year. IMF Managing Director Kristalina Georgieva said 2023 will be a “tough year”, with one-third of the world’s economies expected to be in recession. Because the three big economies, US, EU, China, are all slowing down simultaneously,” Georgieva said during an appearance on the …

From China to inflation, 5 economic trends to watch in 2023
1 year, 11 months ago

From China to inflation, 5 economic trends to watch in 2023

Al Jazeera  

The global economy is facing risks and opportunities next year from rising interest rates to China’s reopening. The partial reversal of globalisation means more expensive imports, shortages of labour in many Western countries leads to more expensive production, and green transition measures to combat the greatest threat our species faces are all leading to higher inflation than we’ve been used …

World economy to experience recession in 2023, says Centre for Economics and Business Research
1 year, 11 months ago

World economy to experience recession in 2023, says Centre for Economics and Business Research

Firstpost  

The CEBR takes its base data from the IMF’s World Economic Outlook and uses an internal model to forecast growth, inflation and exchange rates According to the Centre for Economics and Business Research, the world will experience a recession in 2023 as a result of rising borrowing prices intended to combat inflation. According to the British consultancy’s annual World Economic …

World Bank cuts 2022 China growth forecast to 2.7 per cent from 4.3 per cent predicted in June
2 years ago

World Bank cuts 2022 China growth forecast to 2.7 per cent from 4.3 per cent predicted in June

Firstpost  

The World Bank in a report released on Tuesday slashed its 2022 China growth forecast to 2.7 per cent, from 4.3 per cent predicted in June, as the pandemic and weaknesses in the property sector hit the world’s second-largest economy. Washington: The World Bank in a report released on Tuesday slashed its 2022 China growth forecast to 2.7 per cent, …

World Bank slashes China growth forecasts citing pandemic, property sector crisis
2 years ago

World Bank slashes China growth forecasts citing pandemic, property sector crisis

Hindustan Times  

The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world's second largest economy. "Economic activity in China continues to track the ups and downs of the pandemic -- outbreaks and growth slowdowns have been followed by uneven recoveries," the World Bank said. "Continued adaptation of …

World Bank raises India FY23 GDP growth forecast to 6.9%
2 years ago

World Bank raises India FY23 GDP growth forecast to 6.9%

Live Mint  

The World Bank on Tuesday raised India’s economic growth forecast for the current financial year to 6.9% from its October estimate of 6.5% citing the economy’s resilience in the face of challenging external environment and the September quarter performance. While the deteriorating external environment will weigh on India’s growth prospects, the economy is relatively well positioned to weather global spillovers …

OECD forecast: High rates, inflation to slow world growth
2 years, 1 month ago

OECD forecast: High rates, inflation to slow world growth

Associated Press  

Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023. Inflation — largely fueled by high energy prices — “has become broad-based and persistent,” Cormann said, while “real household incomes across many countries have weakened despite support …

Europe to be hit hardest in global slowdown, says OECD
2 years, 1 month ago

Europe to be hit hardest in global slowdown, says OECD

The Hindu  

The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the OECD said, adding that fighting inflation should be policymakers' top priority. It forecast that world economic growth would slow from 3.1% this year — slightly more than the OECD foresaw in its September …

Gloomier outlook for Dutch economy from OECD; Inflation to remain high till 2024
2 years, 1 month ago

Gloomier outlook for Dutch economy from OECD; Inflation to remain high till 2024

NL Times  

The Dutch economy will grow less than previously estimated, mainly due the inflation, which will remain high until at least the end of 2024, the Organization for Economic Cooperation and Development warned in its annual report for the Netherlands, NOS reports. Despite a 0.2 percent contraction in the third quarter, the OECD expects the Dutch economy to grow by 4.2 …

World economy to grow 3.1% this year, down from 5.9% : OECD
2 years, 1 month ago

World economy to grow 3.1% this year, down from 5.9% : OECD

Al Jazeera  

While not predicting a global recession, the OECD said it was ‘a very, very challenging outlook’ for this year and next. Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023. In the OECD’s estimation, the world …

'Worst to come... 2023 will feel like recession': IMF warns, cuts India forecast
2 years, 2 months ago

'Worst to come... 2023 will feel like recession': IMF warns, cuts India forecast

Hindustan Times  

The International Monetary Fund on Tuesday cut India's 2022 economic growth forecast to 6.8 per cent - down from a January projection of 8.2 per cent and in July estimate of 7.4 per cent. India's GDP growth slashed to 6.8 per cent by International Monetary Fund In its latest World Economic Outlook, the IMF said over a third of the …

IMF cuts 2023 growth outlook amid colliding global shocks
2 years, 2 months ago

IMF cuts 2023 growth outlook amid colliding global shocks

The Hindu  

The International Monetary Fund on October 11 cut its global growth forecast for 2023 amid colliding pressures from the war in Ukraine, high energy and food prices, inflation and sharply higher interest rates, warning that conditions could worsen significantly next year. The IMF said global GDP growth next year will slow to 2.7%, compared to a 2.9% forecast in July, …

Growth is still the real issue
2 years, 2 months ago

Growth is still the real issue

Hindustan Times  

The 0.5 percentage point increase by the Reserve Bank of India ’s monetary policy committee, taking the policy rate to 5.9%, making both existing and new loans expensive, needs to be seen in the right context to be fully appreciated. The policy was also measured in its response to the rupee’s depreciation against the dollar — pointing out that this …

World Bank slashes economic outlook for Asia over China slowdown
2 years, 2 months ago

World Bank slashes economic outlook for Asia over China slowdown

Al Jazeera  

The Washington-based lender expects the region to grow 3.2 percent in 2022, down from a 5 percent forecast in April. The World Bank has slashed its economic outlook for the Asia-Pacific, pointing to China’s ultra-strict “zero-COVID” policy as a drag on regional growth. The bank is the latest financial institution to cut its growth forecast for Asian economies after the …

World economy to slow, 'paying the price of war', says OECD in its report
2 years, 2 months ago

World economy to slow, 'paying the price of war', says OECD in its report

Firstpost  

Covid outbreaks are still having an impact on the global economy while growth has also been affected by rising interest rates as central banks scramble to cool red-hot prices, the OECD said in report titled “paying the price of war” Paris: The world economy will take a bigger hit than previously forecast next year due to the effects of Russia’s …

IMF cuts global growth forecasts, warns high inflation threatens recession
2 years, 4 months ago

IMF cuts global growth forecasts, warns high inflation threatens recession

The Hindu  

The International Monetary Fund cut global growth forecasts again on July 26, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a forecast of 3.6% issued in April, the IMF said …

OECD says UK economy will slump to zero growth in 2023
2 years, 6 months ago

OECD says UK economy will slump to zero growth in 2023

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Countries worldwide are being hit by higher commodity prices, …

World Bank dims outlook for global economy amid Russia war
2 years, 6 months ago

World Bank dims outlook for global economy amid Russia war

Associated Press  

WASHINGTON — The World Bank has sharply downgraded its outlook for the global economy, pointing to Russia’s war against Ukraine, the prospect of widespread food shortages and concerns about the potential return of “stagflation” — a toxic mix of high inflation and sluggish growth unseen for more than four decades. In China, the world’s second-biggest economy after the United States, …

Expert: 2022 GDP growth 'around 5.5%' achievable
3 years ago

Expert: 2022 GDP growth 'around 5.5%' achievable

China Daily  

China might set the annual economic growth target at "around 5.5 percent" for 2022, a level that is achievable amid mild policy easing and will help anchor market expectations, said a leading economist. "It is most likely for policymakers to set next year's GDP growth target at around 5.5 percent," said Hu Yifan, regional chief investment officer and head of …

Amid omicron scare, OECD cuts global economic outlook
3 years ago

Amid omicron scare, OECD cuts global economic outlook

The Hindu  

The global recovery has lost momentum and is becoming increasingly uneven, the Organization for Economic Cooperation and Development said in its latest economic outlook on November 1, adding that the emergence of the omicron variant could threaten recovery. "We are concerned that the new variant of the virus, the omicron strain, is further adding to the already high levels of …

US stimulus will boost global economy, Europe's economy still struggling
3 years, 9 months ago

US stimulus will boost global economy, Europe's economy still struggling

Hindustan Times  

A US recovery turbocharged by President Joe Biden’s stimulus package will help power a faster than expected global economic upswing that risks leaving Europe behind, according to OECD forecasts. Employees work as they make respiratory masks in a family-owned medical equipment factory in north Miami, Florida on February 15, 2021 The Paris-based organization said it now expects global output to …

India could be back on top as the world’s fastest growing economy this year
3 years, 9 months ago

India could be back on top as the world’s fastest growing economy this year

CNN  

London CNN Business — After plunging into recession for the first time in nearly a quarter of a century, India’s economyshouldcome roaring back to life in 2021. India’s gross domestic product is projected to expand by 12.6% during the country’s fiscal year starting in April, according toa forecast released Tuesday by the Organization for Economic Cooperation and Development. If that …

World Bank: China's growth to pick up at 7.9% in 2021
3 years, 11 months ago

World Bank: China's growth to pick up at 7.9% in 2021

China Daily  

China's economy is expected to expand by 7.9 percent in 2021, nearly double the global growth rate predicted for the year, the World Bank said in its forecast on Tuesday. The World Bank said China's strength was "an exception", however, and disruptions from the pandemic in most other emerging market and developing countries were more severe than previously envisioned, resulting …

经合组织报告：中国将是2020年G20唯一实现正增长的国家
4 years, 3 months ago

经合组织报告：中国将是2020年G20唯一实现正增长的国家

China Daily  

当地时间9月16日，经合组织发布了《经济展望中期报告》，将全球2020年GDP变动预期从下滑6%上调至下滑4.5%，2021年经济增长预期同步上调至5%。此外，报告指出，按照目前的经济和疫情态势，中国将是2020年二十国集团中唯一实现正增长的国家。 A traveller wearing a face mask walks at the Terminal 5 at Heathrow Airport, as the spread of the coronavirus disease continues, in London, Britain, July 26, 2020. 新冠肺炎疫情对世界上许多大型经济体的巨大冲击，可能没有几个月前经济学家担心的那么严重。 In a report published on Wednesday, the Organization for Economic Cooperation and Development upgraded its forecast for global economic output this year, noting that while declines were still "unprecedented in …

经合组织报告：中国将是2020年G20唯一实现正增长的国家
4 years, 3 months ago

经合组织报告：中国将是2020年G20唯一实现正增长的国家

China Daily  

当地时间9月16日，经合组织发布了《经济展望中期报告》，将全球2020年GDP变动预期从下滑6%上调至下滑4.5%，2021年经济增长预期同步上调至5%。此外，报告指出，按照目前的经济和疫情态势，中国将是2020年二十国集团中唯一实现正增长的国家。 A traveller wearing a face mask walks at the Terminal 5 at Heathrow Airport, as the spread of the coronavirus disease continues, in London, Britain, July 26, 2020. 新冠肺炎疫情对世界上许多大型经济体的巨大冲击，可能没有几个月前经济学家担心的那么严重。 In a report published on Wednesday, the Organization for Economic Cooperation and Development upgraded its forecast for global economic output this year, noting that while declines were still "unprecedented in …

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