OECD releases latest updated figures for the global growth outlook

OECD releases latest updated figures for the global growth outlook

Today, the OECD will present the “near-term prospects” for the global economy. These prospects will be laid out in an

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Photo: Reuters

Today, the OECD will present the “near-term prospects” for the global economy.

These prospects will be laid out in an OECD document called the “Interim Economic Outlook”, which is intended to help evaluate the extent to which projections and analysis from the OECD’s annually published “Economic Outlook” are actualised.

The conclusions of the last Economic Outlook of November 2017 highlighted the continual obstacles to the overall improvements to the international economy, including problems concerning finance and high debts rates, and the necessity of strong policy action to promote “robust, inclusive and resilient growth”.

Concentrate on the OECD’s first point on “longer-term challenges”. While the 2017 report does not cite trade wars as a serious challenge, today’s interim report likely will address the implications of the idea in the current geopolitical and economic contexts. This comes as economists have been devoting more attention lately to the implications of the US levying of steel and aluminium tariffs and the rounds of retaliation and counter-retaliation that could cost jobs and raise prices worldwide.