PARIS (Reuters) - A stronger than expected U.S. economy is helping to keep a global slowdown in check this year but a weakening Chinese economy will ...
PARIS - A stronger than expected U.S. economy is helping to keep a global slowdown in check this year but a weakening Chinese economy will prove to be a bigger drag next year, the OECDPARIS - A stronger than expected U.S. economy is helping to keep a global slowdown in check this year but a weakening Chinese economy will prove to be a bigger drag next year, the OECD forecast on Tuesday.
While that was an upgrade from 2.7% in the OECD's June outlook, global growth was expected to slow to 2.7% in 2024 - down from its estimate of 2.9% in June. Nonetheless, it was likely to slow next year to 1.3%, though that was better than the 1.0% for 2024 expected in June. The OECD forecast that the Chinese economy would slow from 5.1% this year to 4.6% next year as momentum from the end of COVID restrictions fades and the property market struggles. In June, the OECD had forecast 5.4% growth this year and 5.1% next year.
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