US EditionOECD: Global economy on mend but recovery will be weak
- The OECD has forecasted a weak global economic recovery from the impacts of COVID-19 and Russia's war in Ukraine, with the US, Euro area, and China all experiencing sluggish recoveries.
- Persistent inflation and restrictive policies from major central banks pose a challenge for policymakers, who need to react to strong core price pressures while avoiding overly hurting growth.
- The OECD has urged central banks to remain restrictive and even raise rates further if needed until there are clear signs that underlying inflationary pressure is durably reduced, and recommended a targeted approach to fiscal support for households to limit the demand pressures that stoke inflation.
11 Articles
11 Articles
Global economy faces 'long road' to recovery, OECD warns
The world economy faces a long and fragile recovery from the COVID-19 pandemic and fallout from the Russian war in Ukraine, hobbled by chronic inflation and rising interest rates, the OECD said. In its latest Economic Outlook released Wednesday, the Paris-based group projected global growth of just 2.7% this year, the lowest annual rate since the 2008 financial crisis. Only a modest improvement is expected in 2024, with an output of 2.9%. Both …
World economy set for weak inflation-plagued recovery, OECD warns
The global economy is set for a weak recovery from the shocks of Covid and Russia's war in Ukraine, dogged by persistent inflation and the restrictive policies of major central banks seeking to contain price pressures, the OECD said.
Coverage Details
Bias Distribution
- 56% of the sources lean Right
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
