OECD Ups Global Growth Forecast For Next Year, Lowers 2021 Outlook finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
OECD raises China’s growth forecast to 8.5% this year, 5.8% in 2022
The recovery of China’s economic activity has been swift and growth will reach 8.5 percent this year and 5.8 percent in 2022, according to the Economic Outlook released by the Organisation for Economic Cooperation and Development (OECD) on Monday.
Investment will remain a key engine of growth, while consumption will recover only gradually. Robust export demand will keep industry capacity utilization high. The low proportion of imports in overall consumption means that the global surge in raw material prices will only have a limited impact on consumer price inflation, the OECD report said.
Prospects for the world economy have brightened but the recovery is likely to remain uneven and, crucially, dependent on the effectiveness of public health measures and policy support, according to the OECD’s latest Economic Outlook. In many advanced economies more and more people are being vaccinated, government stimulus is helping to boost demand and businesses .
The Organization for Economic Co-operation and Development has revised upward this year's projection for global economic growth. But it cut its outlook for Japan, citing a slow vaccine rollout and a resurgence of infections.
The global economic rebound from the pandemic has picked up speed but remains uneven across countries and
faces multiple headwinds, OECD Chief Economist Laurence Boone tells DW.