6/7, 9:25 AM (Source: TeleTrader)
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OECD raises 2023 global GDP growth estimate to 2.7%

The Organization for Economic Co-operation and Development (OECD) on Wednesday revised its global GDP growth projection up to 2.7% in 2023 and kept the 2024 estimate nearly unchanged at 2.9%.

Economic growth in the United States will stand at 1.6% in 2023 and at 1% in 2024, while the Eurozone GDP is seen expanding by 0.9% this year and by 1.5% in the year after. China's economy will grow 5.4% and 5.1% in 2023 and 2024, respectively, according to OECD's report.

Inflation in OECD countries is expected to land at 6.6% in 2023 and 4.3% in 2024, while in the "major advanced economies," the annual inflation rate is set to decline to slightly over 2.25% by the fourth quarter of 2024.

Baha Breaking News (BBN) / MS