The Organization for Economic Cooperation and Development (OECD) on Tuesday raised its world economic growth forecast for 2023, but lowered it for 2024.
The world economy is expected to grow by 3.0% this year, said the Paris-based organization in its September global economic outlook report. This was 0.3 percentage point upward from the previous projection in June.
The global gross domestic product (GDP) growth is foreseen to come in at 2.7% next year, revised downward by 0.2 points. “With monetary policy becoming increasingly visible and a weaker-than-expected recovery in China, global growth in 2024 is projected to be lower than in 2023,” the OECD said.—AA
