OECD Optimistic on Global Growth; Cautions Germany's Slowdown

May 3, 2024
OECD Optimistic on Global Growth; Cautions Germany's Slowdown
  • The OECD projects global economic growth to be 3.1% in 2024 and 3.2% in 2025.

  • The US and China's growth forecasts for 2024 have been raised to 2.6% and 4.9%, respectively.

  • Germany's growth forecast for 2024 has been cut to just 0.2%, with a slight improvement to 1.1% expected in 2025.

  • Challenges for Germany's economy include green investment uncertainties and high-interest rates affecting investor confidence.

  • The OECD suggests measures such as digitalizing administration and reducing bureaucratic hurdles to stimulate investment.

  • Efficiency in public spending and promotion of green investments are recommended to bolster economic growth.

  • The Eurozone is expected to grow by 0.7% in 2024 and 1.5% in 2025.

  • Despite narrowly avoiding a recession with a 0.2% growth, Germany faces economic pressures.

  • The OECD cautions against geopolitical tensions impacting energy and financial markets but sees overall risks as more balanced.

Summary based on 17 sources


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