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 per cent this year, according to the Organisation for Economic Cooperation and Development (OECD) latest forecasts. With the exception of 2020, when C-19 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 Economist Clare Lombardelli told a news conference on Tuesday. “We’re confronting the double challenges of inflation and low growth.”
(www.business-standard.com)
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