Global economy poised to slow as rate hikes bite, OECD says

While US expansion will be stronger than predicted in June, it will slow to 1.3% in 2024. (Image: Bloomberg)

Wed, 20 Sep 2023

By William Horobin(Bloomberg) -- The world economy is set for a slowdown as interest-rate increases weigh on activity and China’s pandemic rebound disappoints.Growth will ease to 2.7% in 2024 after an already “sub-par” expansion of 3% this year, according to the latest OECD forecasts. With the exception of 2020, when covid struck, that would mark the weakest annual expansion since the global financial crisis.“While high inflation continues to unwind, the world economy remains in a difficult place,” OECD chief econo...

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