FILE – People walk on a shopping street in Essen, Germany, on May 31, 2023. The global economy must steer through a precarious recovery this year and next as inflation keeps dragging on household spending and higher interest rates weigh on growth, banks and markets. That was the takeaway Wednesday June 7, 2023 from the latest economic outlook by the Paris-based Organization for Economic Cooperation and Development. (AP Photo/Martin Meissner, File)
The Organisation for Economic Co-operation and Development (OECD) has marginally increased its global economic growth forecast to 2.7%, up from 2.6% in its previous report. This revision is attributed to easing inflation, China lifting Covid restrictions, falling energy prices, and supply chain improvements. However, the recovery remains below the 3.3% growth recorded in 2022, and the organisation warns of a “long road” ahead.
…
