The Organisation for Economic Co-operation and Development (OECD), situated in Paris, has recently updated its global economic outlook, foreseeing growth of 3.1 percent this year and 3.2 percent in 2025. This revision stems from stronger-than-predicted expansion in both the United States and China.
In spite of moderate growth, the OECD observed signs of improvement across the global economy, with inflation declining at a faster rate than anticipated and private sector confidence on the rise. Recovery rates varied among countries, with softer outcomes seen in Europe and low-income nations, while the United States and many large emerging market economies experienced robust growth.
According to the OECD’s prognosis, the US economy is forecasted to expand by 2.6 percent this year and 1.8 percent in 2025. China, the world’s second-largest economy, is projected to grow by 4.9 percent in 2024 and 4.5 percent next year. The eurozone is expected to see growth of 0.7 percent this year and 1.5 percent in