Economy
September 22, 2019
A Grim Global Economic Outlook from the OECD
Written by Sandy Williams
“Fragile and uncertain” is how the Organization for Economic Cooperation and Development (OECD) describes the current global economy. The OECD’s latest Interim Economic Outlook shows economic growth slowing as escalating trade conflicts impact confidence and investment and increase downside risks in financial markets.
In May of 2018, the OECD was predicting global growth of 4 percent for 2019, but that forecast is now adjusted downward to 2.9 percent. The annualized growth rate for global investment increased at a pace of almost 5 percent in the first half of 2018, but the OECD expects that rate to slide below 1 percent in 2019, with trade falling from 4 percent into contraction.
