Open Demo Account
Home / Market Update / OECD Slashes Global Growth Forecasts

OECD Slashes Global Growth Forecasts

Adel 8 June, 2022 3:06 pm Market Update

The Organisation for Economic Co-operation and Development (OECD) announced today cutting its global growth predictions for 2022 to 3% due to the Russia-Ukraine war repercussions and the supply-chain disruptions.

In its latest review, published today, OECD sees global GDP growth of 3.0% in 2022 versus 4.5%, predicted before.

Besides, OECD expects euro area growth of 2.6% in 2022 and 1.6% in 2023, and US growth of 2.5% in 2022 and 1.2% in 2023.

OECD’s forecast revisions came on the heels of the World Bank’s 2.9% growth estimate that was released Tuesday.

Tags

Check Also

US Bond Yields Recede as Markets Digest Credit Downgrade

US Treasury yields edged lower on Monday, retracing some of the sharp gains witnessed in …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends