11/29/2023, 11:39 AM (Source: TeleTrader)
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OECD: Global GDP growth to fall to 2.7% in 2024

Global GDP growth is set to drop to 2.7% in 2024 from 2.9% this year, the Organization for Economic Co-operation and Development (OECD) said in its latest Economic Outlook published on Wednesday. For 2025, the figure is expected to rise to 3%.

According to the OECD, global risks will continue, especially concerning geopolitical tensions due to the most recent Hamas terrorist attack and the war with Israel. "This could result in significant disruptions to energy markets and major trade routes and additional risk repricing in financial markets that would slow growth and add to inflation."

By country, the OECD forecasts economic growth in the United States will increase to 2.4% in 2023, while in China, Japan, and the eurozone it will be at 5.2%, 1.7% and 0.6%, respectively. By 2024, economic growth in the United States is expected to fall to 1.5%, while in China, it will drop to 4.7%, and in Japan to 1%. GDP in the eurozone will rise to 0.9% next year.

Baha Breaking News (BBN) / JG